News

Amazon stumbles in Q1 overall, ad revenue up 25%

Calum Jaspan

April 29, 2022 9:30

Amazon has reported a difficult Q1 for 2022, as it saw a US$3.8 billion (A$5.35 billion) net loss in the quarter, resulting in a 10% dip in shares overnight.

The majority of Amazon’s losses came via its investment in Rivian, an electric vehicle company. The total losses from its investment in Rivian totalled US$7.6 billion (A$10.7b), as the company lost more than half its value this quarter.

A tough quarter for Amazon, but buoyed by its advertising services

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Calum Jaspan was news editor at Mumbrella, based in Melbourne. He was also the producer and host of the Mumbrellacast. He left Mumbrella in May 2023.

Topics

2022 financial results Amazon Andy Jassy financials

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