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Amazon loses 3,655 million euros in its commitment to Rivian electric vehicles

The e-commerce giant Amazon registered losses of 3,844 million dollars (3,655 million euros) in the first three months of 2022, in contrast to the profits of 8,107 million dollars (7,709 million euros) recorded by the multinational in the same period last year as a result of the impairment of the value of its stake in the electric vehicle manufacturer Rivian.

In this sense, the e-commerce multinational specified that its accounts for the first quarter of 2022 reflect an adverse impact of 7,600 million dollars (7,227 million euros) related to the collapse of the value of Amazon’s stake in Rivian Automotive.

Between January and March, Amazon’s net sales totaled 116,444 million dollars (110,735 million euros), 7.3% above the company’s income in the first quarter of last year.

Specifically, sales of Amazon products between January and March totaled 56,455 million dollars (53,687 million euros), 1.8% less, while revenue from services grew by 17.6%, to 59,989 million dollars (57,048 million euros).

Amazon sales in North America reached 69,244 million dollars (65,849 million euros), which implies an increase of 7.6% in one year, while the international income of the multinational totaled 28,759 million dollars (27,349 million euros), 6.2% less.

On its side, the turnover of Amazon Web Services (AWS) experienced a year-on-year increase of 36.6% in the first quarter, to 18,441 million dollars (17,537 million euros).

“The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,” said Andy Jassy, ​​Amazon CEO.

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