Amazon on Thursday reported worse-than-expected profits, but its revenue beat expectations boosted by sales in North America businesses and the cloud-computing unit AWS.
Amazon said it made $300 million in profits, or 3 cents per share, falling below the $2.03 billion analysts surveyed by FactSet had been expecting. The company said its profits were dented by a $2.3 billion write-down of the value of its stock investment in electric vehicle start-up Rivian Automotive.
