Its net loss includes a pre-tax valuation loss of 7.6 billion dollars included in non-operating expense from the company's common stock investment in Rivian Automotive, Inc., according to Amazon.
Net sales increased 7 percent to 116.4 billion U.S. dollars in the first quarter, compared with 108.5 billion dollars in first quarter 2021.
"The pandemic and subsequent war in Ukraine have brought unusual growth and challenges," said Andy Jassy, Amazon CEO.
The company's operating cash flow decreased 41 percent to 39.3 billion dollars for the trailing 12 months, compared with 67.2 billion dollars for the trailing 12 months ending March 31, 2021.
Free cash flow decreased to an outflow of 18.6 billion dollars for the trailing 12 months, compared with an inflow of 26.4 billion dollars for the trailing 12 months ended March 31, 2021.
Common shares outstanding plus shares underlying stock-based awards totaled 523 million on March 31, 2022, compared with 519 million one year ago.
"With AWS growing 34 percent annually over the last two years, and 37 percent year-over-year in the first quarter, AWS has been integral in helping companies weather the pandemic and move more of their workloads into the cloud. Our Consumer business has grown 23 percent annually over the past two years, with extraordinary growth in 2020 of 39 percent year-over-year," said Jassy.
According to him, the company is no longer chasing physical or staffing capacity, but focusing on improving productivity and cost efficiencies throughout fulfillment network to work through ongoing inflationary and supply chain pressures.
"We see encouraging progress on a number of customer experience dimensions, including delivery speed performance as we're now approaching levels not seen since the months immediately preceding the pandemic in early 2020," Jassy noted.
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