Tech giant’s revenues grew at a sluggish 7% in the first quarter to $116.4bn as shoppers switch back to bricks and mortar
Amazon announced its first loss since 2015 on Thursday as sales slowed, costs rose and its investment in electric vehicle company Rivian wiped out profits.The tech giant’s revenues grew at a sluggish 7% in the first quarter to $116.4bn. For thelast year, Amazon’s sales increased 44% to $108.5bn. It lost $3.8bn for the quarter compared with a profit of $8.1bn during the same period a year ago.
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