Connect with us

Hi, what are you looking for?


Amazon shares lose gains

Amazon shares lose gains

Amazon (AMZN) released first-quarter financial results that surpassed expectations. At first, the stocks were up, but when cautious statements were made regarding the possibility of a break in operations at the Amazon Web Services cloud system, the stocks dropped in the trading market.

At the Amazon earnings call, the Chief Financial Officer informed shareholders that Amazon Web Services (AWS) customers are still striving to reduce expenses.

Amazon shares retreated about 2%.

Revenue at Amazon’s AWS unit advanced 16% in the first quarter, down from 37% year-over-year growth in the same quarter last year.

The company’s efforts to rein in costs are expected to be a central focus for the company’s earnings.

Much of the initial excitement in Amazon’s quarter can be seen in the gains that have returned to some parts of the business.

In its North American retail operations, the company returned to making money. At this time last year, the segment was operating at a loss of more than $1.50 billion in the three months to March 2022.

European stocks off lows

European stocks were lower in the session on Friday as traders digested fresh economic reports and more corporate earnings.

After being lower for most of the session, the pan-European Stoxx 600 index retreated 0.2%. Banks lost Thursday’s positive gains and fell 1.72%, while utilities slipped 0.9%. Financial services led to marginal gains with a 0.75% gain.

The Eurozone economy advanced by 0.14% in the year’s first quarter.

Nerves in the banking sector were somewhat revived by regional US bank First Republic, which is looking for a way to recover after its shares fell after it lost about 40% of its deposits in the first quarter.

British bank NatWest’s results showed a 37.25% year-on-year rise in revenue to £1.037 billion.

Mercedes-Benz said annual revenue fell but still beat estimates. The company raised its van sales outlook, saying vehicle sales will be higher under guidance.

The post Amazon shares lose gains appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Rep. Jennifer Wexton (D-Va.) announced on Tuesday that she has been diagnosed with Parkinson’s Disease. “If there’s one thing that Democrats and Republicans can...

    Latest News

    After Dianne Feinstein announced she’d contracted the shingles in early March, her staff said she planned to return to the Senate within a matter...


    A U.S. District Court judge has ruled that Elizabeth Holmes, founder and CEO of the disgraced blood-testing company Theranos, cannot remain free on bail...

    Latest News

    SEOUL, South Korea — When a group of American lawmakers arrived in South Korea for meetings with government and military officials, President Yoon Suk-yeol...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.