Amazon Posts Mixed Second Quarter as Rivian Stake Weighs on Results

Amazon posted mixed second-quarter results on Thursday as better-than-expected revenue was offset by an expense generated from the e-commerce giant’s investment in electric car maker Rivian. Net sales in the quarter, ended June 3, rose 7% to $121.2 billion, beating the $119.1 billion forecast by analysts surveyed by Yahoo Finance. The company posted a loss of 20 cents per share, missing analyst expectations of a profit of 13 cents per share.The loss was caused largely by Amazon’s investment in Rivian, which generated a $3.9 billion valuation loss. Operating income, which excludes Amazon’s stake in the carmaker, dropped to $3.3 billion but beat the high end of the …
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