Written by Cláudio Afonso | info@claudio-afonso.com
The e-commerce giant Amazon announced its Q1 2022 Financial Results on Thursday evening reporting a $7.56 lost per share. The company disclosed that Q1 2022 net loss includes “a pre-tax valuation loss of $7.6 billion included in non-operating expense from our common stock investment in Rivian Automotive“.
According to Fintel, Amazon owns 162.09 million Rivian shares, representing an ownership of 18.10%. During Q1 2022, the company lost $84,440,000 per day during the 90 days of the quarter bringing the total loss amount to $7,600,000,000.
In the first quarter of 2022, Amazon’s net loss was $3.8 billion in the first quarter, or $7.56 per diluted share, compared with net income of $8.1 billion, or $15.79 per diluted share, in first quarter 2021. First quarter 2022 net loss includes a pre-tax valuation loss of $7.6 billion included in non-operating expense from our common stock investment in Rivian Automotive, Inc., Amazon said.
Earlier this week, Rivian Automotive announced that will hold the 2022 Annual Meeting of Stockholders on June 6 via live webcast. The company will report its first quarter 2022 financial results will be released on May 11, 2022, after market close. Rivian will host an audio webcast to discuss its results and provide a business update at 2:00pm PT / 5:00pm ET the same day.
Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter