Amazon reports $2.7 billion annual loss

[Jan]

Amazon reports first annual loss since 2014

Amazon incurred a net loss of $2.7 billion (R46.16 billion) in 2022, the first time that the tech giant failed to make a profit since 2014.

The company revealed this in its latest quarterly results presentation for the three months ending December 2022.

 

[longboy]

Ooh, tax write-off time.

 

[skimread]

Clickbait article as it was due to a 12.7 billion investment loss in an electric car manufacturer. So should have been a 10 billion profit.

Amazon tries to pay zero tax so that is why they put their investments in other countries like SA marketplace on hold as they couldn't offset the SA marketplace expansion investment against profits.

Blame Elon Musk for SA not getting a Amazon marketplace as reported. Amazon thought producing electric cars was easy seeing Elon can do it.