3 Things Smart Investors Learned From Amazon's Q1 Earnings Report
Amazon (NASDAQ: AMZN) is the Swiss army knife of the technology sector. It operates in e-commerce, cloud computing, digital advertising, and even robotics. For that reason, the company is a great bellwether for the health of the consumer, the business sector, and the broader economy.
That's why investors were watching its 2023 first-quarter earnings results closely. Here are three things they learned.
Amazon had a difficult 2022. E-commerce is the company's largest revenue source, and the segment shrank by 1% for the year on the back of weak consumer spending, driven by high inflation and rising interest rates. Plus, Amazon owns a stake in electric vehicle manufacturer Rivian Automotive, and it suffered a whopping $12.7 billion loss for the year on its share.
Source Fool.com
