The tech giant said on Thursday it had a net loss of $ 3.8 billion in the quarter ended March 31, a sharp drop from revenue of $ 8.1 billion in the same period last year. It was also a huge loss from the $ 4.4 billion in profits forecast by analysts surveyed by Refinitiv. “Today, as we no longer chase physicality or staffing capacity, our teams are fully focused on improving productivity and cost-effectiveness throughout our fulfillment network,” he added. “This may take some time, especially as we work through ongoing inflationary pressures and supply chain pressures, but we are seeing encouraging progress in a number of dimensions of the customer experience.” The company also announced that Prime Day, the annual sales advantage, will take place this July in more than 20 countries. “The cost of shipping a container abroad has more than doubled compared to pre-pandemic rates,” he said. “The cost of fuel is about one and a half times higher than a year ago.”
