Amazon posts second quarterly loss in a row but shares rise on strong earnings

Sales up 7% in three months to June marking one of slowest growth periods in company's history but still better than expected

Amazon reported its second quarterly loss in a row on Thursday but the company's share price gained over 10% in after-hours trading on stronger than expected earnings.

Sales for the three months ending in June increased by 7% to $121bn compared with $113.1bn in the second quarter of 2021. The increase marks one of the slowest growth periods for Amazon in its history but was better than expected.