China News Agency, San Francisco, February 2. The latest financial report released by Amazon in the United States on the 2nd local time shows that the company's net sales growth rate in 2022 will hit a record low, with a net loss of up to 2.7 billion US dollars.
The financial report shows that in the fourth quarter of 2022, Amazon's net sales were US$149.2 billion, a year-on-year increase of 9%.
The company's net income was $300 million, down 98% year-over-year.
Amazon's net sales in 2022 will be US$514 billion, a year-on-year increase of 9%, the lowest growth rate since the company went public.
Amazon's net loss in 2022 will reach $2.7 billion, and its stock price will fall by nearly 50%.
The Seattle Times reported that Amazon attributed the 2022 loss to its investment in electric vehicle startup Rivian.
Amazon owns a 20 percent stake in Rivian, according to NPR.
Under the influence of pricing mistakes and other factors, Rivian stock price will fall by 82% in 2022.
The company said on February 1 that it plans to lay off 6% of its workforce, and about 840 people will be affected.
In the fourth quarter of 2022, Amazon has already begun to control costs by closing some stores, cutting projects and freezing recruitment.
Earlier this year, the company announced it would cut more than 18,000 jobs.
Amazon said it expects the company's net sales to be between $121 billion and $126 billion in the first quarter of 2023, a year-over-year increase of 4% to 8%.
On the 2nd, Google and Apple also announced their financial reports for the fourth quarter of 2022, many of which were lower than expected.
After the three technology giants announced their financial reports, the stock prices all fell after hours.
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