Amazon stumbles in Q1 overall, ad revenue up 25%

Amazon has reported a difficult Q1 for 2022, as it saw a US$3.8 billion (A$5.35 billion) net loss in the quarter, resulting in a 10% dip in shares overnight.

The majority of Amazon’s losses came via its investment in Rivian, an electric vehicle company. The total losses from its investment in Rivian totalled US$7.6 billion (A$10.7b), as the company lost more than half its value this quarter.

A tough quarter for Amazon, but buoyed by its advertising services