Amazon, one of the balance sheets closely followed by the technology world and naturally the crypto money world, also made its official statement. Amazon, whose investment in Rivian electric vehicles has turned into a nightmare, has therefore announced a loss in the tables.
Amazon made a big loss
According to the first quarter reports of the year announced by the company, total revenue amounted to 116.4 billion dollars, an increase of 7 percent. It recorded the lowest growth rate since 2001 and single-digit growth for two consecutive quarters for the first time. Amazon web services grew by 36.5% to reach $18.44 billion, while the advertising segment increased by 23 percent to $7.88 billion.
How are Apple’s Q1 sales?
Although gross net income was around $4 billion, Rivian electric vehicle investment brought in a loss of $7.6 billion this quarter. Thus, the net loss was $3.8 billion. Rivian’s market value has halved during this period.
The firm expects a small increase in the second quarter of the year. The delay of Prime Day events to July, the economic effects of the Ukraine war and the continuation of the pandemic are the biggest factors in this. Amazon’s shares fell 10 percent with the announcement.
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