Amazon does not get out of the quagmire: it loses 2,993 million because of Rivian and sinks its operating profit by 11,971 million

amazon does not get out of the quagmire in which it has been stuck in the last periods and which is largely due to the impairment of the value of its participation in Rivianmanufacturer of electric cars that has Ford. It has now been known that she has had some losses of 2,993 million euros in the first nine months and has sunk his benefit operative in 11,971 million in the last year, despite growing in sales.

These figures mean more bad news for Jeff Bezos, but good for the small business that destroys so much. Fortunately, on occasion they give him a slap on the wrist: California sued Amazon for forcing small businesses to sell more expensive. Well done! The best option is not buying to the giant of Bezzos.

The American e-commerce giant has had some losses of 2,993 million until September, compared to the 18,994 million it earned a year ago, because the negative impact of Rivian has been added to that of the inflation and also that of the dollar strength (of about 898 million). The participation in the aforementioned electric car manufacturer had an adverse impact of 7,581 million in the first quarter, although between July and September it had a positive impact of 1,097 million. It doesn’t go well either operating profit, which has plummeted by 11,971 million in the last year, going from 21,532 million to 9,561 million, and therefore, falling by more than half. Only in the third quarter, the operating profit has gone from 4,926 million to 2,513 million, in its year-on-year comparison.

The CEO, the progressive Andy Jassy, ​​has indicated that they are working on initiatives to generate a more solid cost structure. Of course, investors do not seem to have been convinced: it has received a stock market punishment, despite forecasting an increase in sales for the fourth quarter

Amazon has increased its net sales 9.7%, to 363,889 million, until September. This figure highlights the strong rise in the business of services (191,940 million, 18.7% more), among which is Amazon Web Services (AWS) and which wants to continue increasing with entry into health services and data companies. And it is that the business of sales of products it has only grown by 1.2%, to 171,949 million. In addition, do not forget that it has also opted for audiovisual content, where the politically correct is not lacking, as has been seen in the Serie The Lord of the Rings: The Rings of Power.

Brian Olsavsky, financial director of Amazon, has advanced that a somewhat greater adverse effect of the exchange rate is expected for the fourth quarter (specifically 460 basic points). For his part, the CEO, the progressive Andy Jessy, has indicated that they are working on initiatives to generate a more solid cost structure for the business in the future. Of course, investors do not seem to have been convinced, because it has received a stock market punishment, despite forecasting sales of between 139,658 and 147,639 million for the fourth quarter, which would be between 2% and 8% more than in the same period last year.

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Amazon does not get out of the quagmire: it loses 2,993 million because of Rivian and sinks its operating profit by 11,971 million