teamgreen02 Posted April 28, 2022 Share Posted April 28, 2022 GDP contracting and Amazon losing money again, thanks in part to a $7.6 billion loss on @spin_dry's RIVN. Quote Amazon Inc (AMZN) - Get Amazon.com, Inc. Report posted a surprise first quarter loss Thursday, thanks in part to a $7.6 billion write down on its investment in EV maker Rivian (RIVN) - Get Rivian Automotive, Inc. Class A Report, while forecasting softer-than-expected near-term profits. Amazon said its second quarter loss was pegged at $3.8 billion, or $7.56 per share, down from a profit of $15.79 per share over the same period last year and notably short of the Street consensus forecast of $8.07 per share. Revenues rose 7% from last year to $116.4 billion, just ahead of analysts' estimates of a $116.30 billion tally, but the slowest year-on-year growth in more than a decade. Ad services revenues were $7.87 billion and Amazon Web Services contributed $18.44 billion, rising 36.6% from last year. Operating expenses were up 13.2% at $112.78 million, Amazon said, linked largely to labor and shipping cost increases. Amazon.com First-Quarter Earnings Live Blog With Eric Jhonsa Looking into the current quarter, Amazon said it sees operating income of between -$1 billion to +$3 billion on revenues in the range of $116 billion to $121 billion, compared to the Refinitiv forecast of around $125 billion. “The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,” said CEO Andy Jassy. "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. We know how to do this and have done it before." "This may take some time, particularly as we work through ongoing inflationary and supply chain pressures, but we see encouraging progress on a number of customer experience dimensions, including delivery speed performance as we’re now approaching levels not seen since the months immediately preceding the pandemic in early 2020,” he added Amazon shares were marked 9.9% lower in after-hours trading immediately following the earnings release to indicate a Friday opening bell price of $2,605.00 each. Earlier this year, Amazon's unveiled plans for its first stock split in more than 20 years that is stated to begin trading in June. Amazon said shareholders of record on May 25 will receive 19 extra shares of the group for each one held. Trading is expected to begin on a split-adjusted basis on June 6 The split follows a similar move by Google parent Alphabet GOOGL earlier this year, likely to take place in July, that would leave investors with one Google stock and a dividend payment of 19 more shares, all priced at around $160 each. Apple (AAPL) - Get Apple Inc. Report and Tesla (TSLA) - Get Tesla Inc Report have also executed splits over the past two years, and today's move makes Amazon stock a more attractive and attainable proposition for retail investors who, powered by a wave of mobile trading apps and zero-commission brokers, suddenly find their collective power capturing the attention of the biggest companies in the world. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 28, 2022 Share Posted April 28, 2022 Moral of the story, never follow Spin's stock advice, or just do the opposite. Buy = Short. Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted April 28, 2022 Author Share Posted April 28, 2022 23 minutes ago, ArcticCrusher said: Moral of the story, never follow Spin's stock advice, or just do the opposite. Buy = Short. Somehow @spin_dry made money on this without shorting it. Quote Link to comment Share on other sites More sharing options...
Rod Posted April 28, 2022 Share Posted April 28, 2022 2 minutes ago, teamgreen02 said: Somehow @spin_dry made money on this without shorting it. If you’re expecting honesty you’re gonna have a bad time Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 28, 2022 Share Posted April 28, 2022 1 hour ago, teamgreen02 said: Somehow @spin_dry made money on this without shorting it. Go back and look at my posts. While you’re at it check my experience with Moderna Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted April 29, 2022 Author Share Posted April 29, 2022 2 hours ago, ACE said: If you’re expecting honesty you’re gonna have a bad time Just gotta buy the dip. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 29, 2022 Share Posted April 29, 2022 13 hours ago, spin_dry said: Go back and look at my posts. While you’re at it check my experience with Moderna No offence, but there's a reason you are in your 60's living in your van. 1 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted April 29, 2022 Share Posted April 29, 2022 3 minutes ago, ArcticCrusher said: No offence, but there's a reason you are in your 60's living in your van. I don't think Thpinner is hurting financially, perhaps it's just his choice. Besides, alot of people enjoy the RV/conversion van life. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted April 29, 2022 Share Posted April 29, 2022 5 minutes ago, snoughnut said: I don't think Thpinner is hurting financially, perhaps it's just his choice. Besides, alot of people enjoy the RV/conversion van life. I don't know if he is or not but it seems he is obsessed with chasing short lived multibaggers and the long term result of that is usually zero. I could be wrong. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 29, 2022 Share Posted April 29, 2022 I need to bye more stuff from Amazon. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted April 29, 2022 Share Posted April 29, 2022 8 hours ago, snoughnut said: I don't think Thpinner is hurting financially, perhaps it's just his choice. Besides, alot of people enjoy the RV/conversion van life. I’m quite comfortable. Life has been good to me. Van life is a 3 year adventure. Following the 3 years I’ll get another place and settle in. 1 Quote Link to comment Share on other sites More sharing options...
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