Amazon saw revenue nose up 7% to $116 billion but swung to a net loss of $3.8 billion in the first quarter of 2022 from a profit of $8.1 million the year before.
Its Q2 outlook disappointed the Street and investors dinged the stock, which is off 7% in after-hours trading.“The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,” said CEO Andy Jassy, Amazon, noting ongoing inflationary and supply chain pressures.
But the grab bag of commentary in its earnings release included a pretty long section devoted to entertainment, starting with the close of its $8.45 billion purchase of MGM. “MGM employees joined Prime Video and Amazon Studios.
The storied, nearly century-old studio has more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.