The US e-commerce giant Amazon announced Thursday a loss of 2,722 million dollars in 2022 compared to the more than 33,000 million that he earned the previous yeardragged down by his investment in electric car company Rivian.
The technology company has spent quarter after quarter weighed down by the sharp fall in Rivian’s stock market, in which it has a significant stake, and according to a company statement, a charge of 12.700 million was recorded that has contributed to ending the first unprofitable year for the company since 2014.
The big bet that Amazon made in 2019 for Rivian has taken its toll on the Seattle firm since the beginning of last year, a period in which the car company has lost 65% of its capitalization.
In the meantimeAmazon’s annual net sales increased by 9%, up to 513,983 millionwith a higher sales volume in North America -its main source of income-, a decrease internationally and a notable growth of its cloud business, Amazon Web Services (AWS).
AWS, which leads its market, grew 29% this year to invoice 80,100 million and, furthermore, it was the only segment with an operating profit of 22,900 million, but the experts pointed out today that it is moderating its growth due to the appearance of competitors.
Among other factors that have affected Amazon accounts are inflation, which has contributed to higher costs and lower demand, and efficiency measures that have had an impact on severance payments and write-offs on equipment, property and rent.
Still, Chief Executive Officer Andy Jassy was optimistic for the future, saying the company expects to post operating profits in the first quarter, of up to 4,000 millionand a growth in net invoicing of between 4% and 8%.
Amazon announced in early January that it plans to lay off 18,000 workers6% of a huge workforce that doubled after the declaration of the covid-19 pandemic, when the “boom” of electronic commerce and the technology sector in general took place.
In the fourth quarter, the most followed on Wall Street, the company earned $278 million, down 98% year-on-year, while its net billing increased almost 9%, up to 149,204 millionfigures that did not convince investors.
After the results were published, at the close of the session, the value of Amazon fell by about 4% in electronic operations. In the last year, it has lost 19% of its capitalization, which stands at 1.06 trillion dollars.
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