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Amazon reports first financial loss since 2015, denting stock
CBSN
Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup.
The Seattle-based ecommerce giant's stock almost 10% in after-hours trading.
Amazon reported a loss of $3.84 billion, or $7.56 a share, for the first three months of the year. A year ago, it reported a profit of $8.1 billion, or $15.79 a share, for the first quarter. Wall Street analysts expected a profit of $8.35 a share in the latest quarter, according to FactSet.
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A woman died while hiking in western Colorado on Monday as a heat dome blanketed pockets of the American West and drove up temperatures in a number of states. Marsha Cook, from Cedar Rapids, Iowa, was pronounced dead after collapsing around the two-mile mark of a hiking trail at Colorado National Monument, officials said Wednesday. She was 54.
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Embattled aircraft giant Boeing Wednesday argued to the Justice Department that the company has upheld its end of a 2021 deferred prosecution agreement, and pushed back at federal prosecutors who wrote last month that the plane manufacturer has violated the deal and risked being prosecuted, two people familiar with the discussions confirmed to CBS News.