Amazon Posts First Quarterly Loss Since 2015 as Costs, Rivian Stake Weigh on Results

Tech giant has seen a shopping slump and cost increases due to inflation, labor issues and supply chain challenges

The line between Amazon and Walmart is becoming increasingly blurred, as the two companies seek to maintain their slice of the estimated $5 trillion retail market while chipping away at the other’s share, often by borrowing the other’s ideas. Photos: Amazon/WalmartAmazon.com Inc. posted its first quarterly loss since 2015 after sales growth slowed significantly in the first three months of the year and the company continued to deal with higher costs and stalled online shopping.

The tech giant posted quarterly earnings Thursday that followed a broad industry trend in which e-commerce companies have seen headwinds as consumers return to prepandemic habits and spend more money in person at stores.

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Ford loses $3.1 billion, hit by Rivian investment and chip shortageFord Motor Co. reported Wednesday that it lost $3.1 billion in the first quarter, weighed down by its investment in an electric-vehicle startup, and its revenue slid as a shortage of chips limited the supply of pickups and SUVs in North America. Weighed down by union benefits and pensions To early for electric trucks ! That’s the price they pay for relying on cheap foreign labor!
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