Amazon\n \n stock fell some 14% in after-hours trading Thursday after the company forecast its holiday quarter sales would be lighter than analysts had expected. The e-commerce giant said it expects revenue for the final three months of the year to be between $140 billion to $148 billion, significantly below the $155 billion analysts surveyed by Refinitiv had expected. The weaker forecast comes as rising inflation and looming recession fears weigh on consumer purchasing decisions.
5 billion – representing a slower pace of growth for a closely-watched business unit than Wall Street had expected. But Amazon’s cloud computing division continues to be a strong profit driver for the company. Amazon posted a $2.9 billion profit for the three-month period, much improved from the prior quarter when it posted $2 billion net loss largely due to its investment in electric vehicle maker Rivian. The latest results comes at a precarious time for the e-commerce giant.
Isn't he going to robots for employees?Elon musk has already Transitioned from human employees to robotic employees.Damn That's bad for the economy because robots don't leave the factory to spend money so their worthless to the consumer And the economy,No cash flow.
Billion 💵 slump
His business still generates the same amount of wealth and he still owns the same amount of real estate. Even if his shares are worth $1 its not like shares show his actual wealth
i am poor,my butler is poor
Looks good on him
And still laughing!
I'm sure he'll 'find' it again soon...
Marked for Misinformation
He didn't lost a dime. Only the value of his company went down. It's not like he can't pay for rent or something.
To you and me he lost $10 bucks
Don't worry he will be able to write it off somehow on his taxes. Bound to be a loop hole somewhere the ultra rich always fall thru. So Whatever Fuk Ever. And WHY IS THIS NEWS? My MOM lost her 401k and thats all she had. Is that news? It's pathetic the direction you are going!
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Source: MarketWatch - 🏆 3. / 97 Read more »