Amazon reported a loss of $2.7 billion for 2022, its first unprofitable showing in nine years, according to financial results released Feb. 2.
With this, Amazon closed out its slowest year of growth in its quarter century as a public company, NPR reported Feb. 2.
Six things to know about the company's quarter four financial performance:
- Net sales for the company increased by 9 percent to $149.2 billion in the fourth quarter. In the fourth quarter of 2021, that number was $137.4 billion.
- The company saw its operating income fall to $2.7 billion in the fourth quarter, compared with $3.5 billion in the fourth quarter of 2021.
- Amazon Web Services reported 20 percent sales growth.
- Amazon said revenue in the first quarter will be $121 billion to $126 billion, according to a Feb. 2 earning report from the company.
- Amazon's investment in the electric automaker Rivian led to a pre-tax valuation loss of $2.3 billion.
- The company reported a total net loss of $2.7 billion in 2022.