AWS remains top of Amazon results as company posts another quarterly loss

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Amazon posted a second straight quarter of a loss, but its cloud computing division remains a bright spot in the e-commerce giant’s overall financial performance.

The company followed the $3.8 billion loss reported in the first quarter with another $2 billion loss in the second quarter of 2022. For comparison, the company posted a profit of $7.8 billion in the second quarter of 2021.

The company attributed the loss in part to a return to normal shopping behavior by customers after the easing of Covid-19 lockdown measures that led to the closure of brick-and-mortar stores around the world from March 2020, positively benefiting Amazon’s online business out.

Additionally, the timing of this year’s Amazon Prime Day, which usually brings the company a burst of additional sales, was later than usual. In previous years, the event fell under second-quarter coverage, while this year its numbers count towards third-quarter performance.

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