Amazon lost money in the first quarter of 2022. Amazon stated in an earnings press release on April 28:
Operating income decreased to $3.7 billion in the first quarter, compared with $8.9 billion in first quarter 2021. Net loss was $3.8 billion in the first quarter, or $7.56 per diluted share, compared with net income of $8.1 billion, or $15.79 per diluted share, in first quarter 2021. First quarter 2022 net loss includes a pre-tax valuation loss of $7.6 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc.... Consumer business has grown 23% annually over the past two years, with extraordinary growth in 2020 of 39% year-over-year that necessitated doubling the size of our fulfillment network that we’d built over Amazon’s first 25 years—and doing so in just 24 months. Today, as we’re no longer chasing physical or staffing capacity, our teams are squarely focused on improving productivity and cost efficiencies throughout our fulfillment network.
Amazon expects to lose between $1 billion and $3 billion in the second quarter. Statement.
Hmmm....... what does it all mean for Mississippi?
16 comments:
Just like Netflix and Google, Amazon is learning that you get woke, you go broke. No sane person wants their kids watching insane leftist propaganda.
Their e-commerce has never been a big profit maker. Selling digital subscriptions and AWS was profitable. But like many other families in America, my family dropped Netflix and Prime as soon as they started targeting kids with leftist climate cult, homosexual, transgender, and miscegenation propaganda.
Undercutting prices of locally owned businesses to get you addicted to easily attainable cheap goods you need until they are the only place left to buy those goods.
@3:49
People said the same thing about Walmart.
Smart people know you can buy the same drop-shipped Chinese crap directly from aliexpress cheaper than Amazon.
What does it mean for Mississippi?
Probably means no new fulfillment center.
Bezos has to pay for his bimbo’s plastic surgery and his super yacht and his spaceships.
Probably expected. They made a killing during the pandemic with everyone staying home.
Short Amazon at your own peril. AWS is a 600 lb. gorilla.
Least worst: Hiring freeze
Bad: Layoffs
Catastrophic: Warehouse shutsdown
Betting on "bad" scenario.
I buy Amazon stock every time I have a $1.
Several months ago bozo Bezo said Amazon would go bankrupt one day!
Amazon is still doing well. They will be fine. Their issue is they overbuilt on the fulfillment/warehouse/distribution facilities. But that will work itself out eventually. And @4:51 is correct about AWS being huge. Amazon is far from just being a company that you buy stuff from and they ship it to your door. I do think the stock price was overinflated at $3500. But now it is below $110 (they recently had a 20/1 stock split - so this is below $2200 at the old rate). I like it at this price. I like it a lot.
@4:09 PM Aliexpress may be cheaper, but you are sharing all of your personal data with the Chicoms. What could go wrong?
Ps Don't tell us that they have it already.
#ShopLocal
@9:20
If you are buying drop shipped Chinese crap on Amazon, then it literally means a Chinese seller is putting it on a plane from China and it is then “drop shipped” via USPS to you. Usually the method is via an airline passenger who has a suitcase full of Amazon orders and are shipping them upon arrival to the USA.
Either way, the Chicoms get your name and address.
How is Amazon Madison doing? Will it open? Amazon said it is cutting back on expansion and it is wrapping up completion of the Baton Rouge fulfillment center. That places what, two within three hours of Jackson?
I dropped Netflix as well. No cable, no streaming, but lots of cash in my account.
I hope ESPN goes broke along with CNN. You can hemorrhage cash only so long.
The Amazon center in Canton is built and just waiting on some parts for the conveyor system.
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