Announces First Quarter Results

SEATTLE–(BUSINESS WIRE)–, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2022.

  • Operating cash flow decreased 41% to $39.3 billion for the trailing twelve months, compared with $67.2 billion for the trailing twelve months ended March 31, 2021.
  • Free cash flow decreased to an outflow of $18.6 billion for the trailing twelve months, compared with an inflow of $26.4 billion for the trailing twelve months ended March 31, 2021.
  • Free cash flow less principal repayments of finance leases and financing obligations decreased to an outflow of $29.3 billion for the trailing twelve months, compared with an inflow of $14.9 billion for the trailing twelve months ended March 31, 2021.
  • Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations decreased to an outflow of $22.3 billion for the trailing twelve months, compared with an inflow of $16.8 billion for the trailing twelve 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.
  • Net sales increased 7% to $116.4 billion in the first quarter, compared with $108.5 billion in first quarter 2021. Excluding the $1.8 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 9% compared with first quarter 2021.
  • Operating income decreased to $3.7 billion in the first quarter, compared with $8.9 billion in first quarter 2021.
  • 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.

The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,” said Andy Jassy, Amazon CEO. “With AWS growing 34% annually over the last two years, and 37% 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% annually over the past two years, with extraordinary growth in 2020 of 39% year-over-year that necessitated doubling the size of our fulfillment network that we’d built over Amazon’s first 25 years—and doing so in just 24 months. Today, as we’re no longer chasing physical or staffing capacity, our teams are squarely focused on improving productivity and cost efficiencies throughout our fulfillment network. We know how to do this and have done it before. This may take some time, particularly as we work through ongoing inflationary and supply chain pressures, but 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.”



  • Amazon announced Buy with Prime, a new benefit for Prime members in the U.S. that extends the convenience of shopping with Prime to online stores beyond Prime members can shop directly from participating merchants’ online stores using their Prime member benefits, including fast and free delivery, a seamless checkout experience, and free returns on eligible orders.
  • This year, Prime Day will take place in July in more than 20 countries. During Amazon’s annual shopping event, Prime members will be able to save on products from national brands and small businesses across every category.
  • Amazon continued to invent and expand ways for customers to discover fashion products. For example, View in 3D enables customers in the U.S. and Canada to view a shoe at any angle, and The Drop provides customers worldwide with access to limited-edition, size-inclusive clothing collections by fashion influencers globally. Amazon also launched Style Feed, a shoppable stream of influencer-curated content on the Amazon shopping app for customers in the U.S. and India to explore fashion, home décor, and beauty items.
  • Amazon launched Amazon Aware, a new brand of consciously created everyday products that span apparel, home, and beauty, and that are made from materials such as recycled polyester, organic cotton, and bio-based ingredients. All Amazon Aware products are certified as carbon neutral and feature certifications that are part of Amazon’s Climate Pledge Friendly program.
  • Amazon opened eight new Amazon Fresh grocery stores and now has 46 Amazon Fresh grocery stores around the world. The newest Amazon Fresh store in Seattle is the world’s first grocery store seeking Zero Carbon certification from the International Future Living Institute and features more than a dozen store design upgrades expected to save nearly 185 tons of carbon emissions each year when compared to an industry-standard grocery store.
  • Amazon opened a new, larger Amazon Go store format for customers in suburban areas in the U.S., with the first location in Mill Creek, Washington. The new format features Amazon’s Just Walk Out technology for a checkout-free shopping experience, an expanded selection of grab-and-go food and beverage items, and a Made-to-Order kitchen with freshly prepared, customizable breakfast and lunch items. Amazon has plans to expand this format to the Los Angeles area in the coming months.
  • For the first time, Amazon introduced Just Walk Out technology at two Whole Foods Market stores in Washington, D.C., and Sherman Oaks, California. Just Walk Out technology also rolled out at new third-party locations, including travel retailer WHSmith in LaGuardia Airport in New York City; UBS Arena in New York; and Minute Maid Park in Houston, Texas. In addition, a food and beverage store equipped with Just Walk Out technology and Amazon One will be opening soon at T-Mobile Park in Seattle. The combination of technologies will give fans the option to enter the store with their palm or credit card, take what they want, and leave without stopping to check out.
  • Amazon Business launched Punch-in, an industry-first procurement tool that simplifies the buying experience for businesses. With Punch-in, businesses can start their purchasing directly on Amazon Business and submit their cart to their e-Procurement system for purchase order creation and reconciliation.


  • Amazon closed its acquisition of MGM, and MGM employees joined Prime Video and Amazon Studios. The storied, nearly century-old studio has more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards. The catalog includes franchise favorites such as James Bond, Rocky, and Legally Blonde, and classic movies such as Thelma & Louise, The Silence of the Lambs, The Magnificent Seven, and Raging Bull. The deal complements Prime Video and Amazon Studios’ work in delivering a diverse slate of original films and TV shows to a global audience and will create even more opportunities to deliver quality storytelling to customers.
  • The teaser trailer for The Lord of the Rings: The Rings of Power broke a global record for the most-watched entertainment trailer to debut during a Super Bowl telecast, with 257 million views globally in the first 24 hours of its release. Customers continue to watch the trailer at The Lord of the Rings: The Rings of Power will debut Friday, September 2, 2022.
  • Iconic announcer Al Michaels and Emmy-winning analyst Kirk Herbstreit are joining Prime Video as the voices for its exclusive coverage of NFL Thursday Night Football. Joining them is executive producer Fred Gaudelli, who marks his 33rd season as the lead producer for the NFL in primetime. The inaugural season of NFL Thursday Night Football under Prime Video’s historic 11-year agreement kicks off Thursday, September 15, 2022.
  • Prime Video became the first streaming service to exclusively carry a major awards show live with the 57th annual Academy of Country Music Awards, which aired on March 7, 2022. Amazon created a 360-degree fan experience for customers across Prime Video, Amazon Live, Amazon Music, Amazon Fashion, IMDb TV, and Twitch.
  • Reacher, Prime Video’s new drama series starring Alan Ritchson, ranked on Nielsen’s overall Streaming Top 10 list for the first three weeks of its premiere, with a No. 1 ranking and more than 1.5 billion minutes watched in its first full week and six consecutive weeks in the Top 10 Streaming Originals list. The hit series has been renewed for a second season. The Marvelous Mrs. Maisel also landed on Nielsen’s Streaming Top 10 list, with 499 million minutes viewed during the week of its Season Four premiere and six consecutive weeks in the Top 10 Streaming Originals list. Additional Prime Video series releases included the second season of Greg Daniels’ futuristic comedy Upload, mystery series Outer Range starring Josh Brolin, and global superstar Lizzo’s first series, Lizzo’s Watch Out for the Big Grrrls.
  • Prime Video debuted 30 local originals internationally, including new seasons of the unscripted franchise LOL in Canada, France, Germany, and Italy, as well as Luxe Listings (Australia), Mahaan (India), Bang Bang Baby (Italy), and HOMESTAY (Japan). New locally produced series and movies launched in Argentina, Australia, Brazil, Canada, France, Germany, India, Italy, Japan, Mexico, the Netherlands, Spain, and the UK.
  • On April 27, IMDb TV became Freevee. The new name better defines the brand and what it offers customers—free, premium streaming content.
  • Amazon launched a U.S. beta version of Amp, a new live radio app that enables creators to DJ their own shows for free, with tens of millions of licensed songs. Early traction with emerging creators and established talent is strong—with live shows from artists, including Pusha T, Travis Barker, Tinashe, Lil Yachty, and Nikita Dragun—and the Amp debut of Nicki Minaj’s Queen Radio is coming soon.
  • Amazon Music and Wondery won six awards—including Podcast of the Year—at the premier podcasting event of the year, The Ambies. The awards spanned four original podcasts: Suspect (Best True Crime), Business Wars (Best Business Podcast), The Lead (Best Sports Podcast), and 9/12 (Podcast of the Year, Best Reporting, and Best Original Score and Music Supervision). This was the second consecutive year that a Wondery podcast won Podcast of the Year.
  • Lost Ark, the free-to-play multiplayer online game, exceeded 20 million global users and became the second-highest played title of all time by peak concurrent players on the distribution platform Steam. Published by Amazon Games in Australia, Europe, Latin America, New Zealand, and North America, the critically acclaimed game was developed by Smilegate RPG.
  • Amazon announced the general availability of its Amazon Luna cloud gaming service, which offers an expanded lineup of games and new features. Luna includes the Retro Channel, with beloved classic games; the Family Channel, with a curated collection of games for families; and the Prime Gaming Channel, where Prime members can access a rotating selection of games on Luna for free.
  • Amazon announced the launch of Mindy’s Book Studio, a boutique story studio with best-selling author, actor, screenwriter, and producer Mindy Kaling. Amazon Publishing will publish books selected by Kaling from emerging and established diverse voices under Mindy’s Book Studio. Amazon Studios and Kaling will also adapt material published under Mindy’s Book Studio as feature motion pictures that will stream exclusively on Prime Video.

Devices and Services

  • Amazon launched new Alexa experiences for customers. Customers can now ask Alexa about symptoms for common health ailments and possible causes, and virtually connect to health care professionals through a new collaboration with Teladoc. They can also access more live and on-demand video content on Echo Show 15 through a new integration with Sling TV. In addition, Amazon introduced a new Alexa shopping experience that can notify customers about upcoming deals for items on their wish list or in their shopping cart, remind them when a deal is available, or order an item when it is discounted.
  • Amazon introduced Alexa person and package detection announcements for Ring, Abode, and Google devices. With the new feature, customers can receive an announcement from Alexa, set up a Routine such as turning on a porch light, and automatically view live video feeds on Echo Show, Fire TV, and Fire tablet devices when a person or package is detected by their smart camera or video doorbell.
  • Ring launched in Japan, bringing its lineup of whole-home security devices—including video doorbells, indoor and outdoor cameras, and accessories—to the country for the first time. Ring devices are now available for sale in 30 countries around the world.
  • Amazon and Yamada Holdings announced the first smart TV with Amazon Fire TV built-in, offering a content-driven viewing experience, a simple and intuitive user interface, Alexa, and hands-free TV control for customers in Japan.
  • eero announced two new additions to the eero family of home mesh wifi systems that will give customers fast connectivity and high performance in any room of the house: eero Pro 6E, the first Wi-Fi 6E-enabled eero system designed for gigabit+ internet plans; and eero 6+, the most affordable gigabit-capable eero system.

Emerging Businesses

  • Amazon Care’s virtual health services are now available 24/7 across the U.S. Additionally, Amazon Care expanded its in-person services to Atlanta, Chicago, Los Angeles, Philadelphia, and San Francisco, and will add more than 15 other cities this year, including Houston, Miami, New York City, and Phoenix. The service provides immediate access to a wide range of urgent and primary care services, including COVID-19 and flu testing, vaccinations, treatment of illnesses and injuries, preventive care, sexual health, and prescription requests and refills.
  • Amazon announced agreements with Arianespace, Blue Origin, and United Launch Alliance to provide launch services for Project Kuiper, Amazon’s initiative to increase global broadband access using a constellation of satellites in low Earth orbit. Amazon secured up to 83 launches across the three contracts, providing heavy-lift capacity to launch the majority of Amazon’s 3,236-satellite constellation. The agreements comprise the largest commercial procurement of launch vehicles in history and will support thousands of suppliers and highly skilled jobs across the global space industry.

Amazon Web Services

  • AWS announced significant customer momentum, with new commitments and migrations from customers across many major industries.

    • Telecommunications: T-Systems, a global service provider for information technologies and digital transformation, selected AWS to launch a managed service in the cloud to provide encryption and implement transparent residency controls for customers’ data in the EU. Verizon migrated its fleet management software platform, Verizon Connect, to AWS to help businesses of all sizes more effectively manage their commercial transportation needs. Spanish telecommunications provider Telefónica expanded its strategic collaboration with AWS to invest in joint go-to-market activities, develop new cloud solutions, and increase AWS Cloud skills among the Telefónica workforce. Telefónica will use AWS to bring innovation to customers faster and help them better leverage the agility of the cloud by launching value-added solutions such as edge computing and built-for-the-cloud private 5G networks that run on AWS Outposts. Commnet Broadband, a broadband communications provider for tribal and rural communities in the U.S., is working with AWS to transform its network and bring AWS services to health care, education, tribal, government, mining, business, and carrier customers in the rural, southwest U.S. Etisalat UAE, a telecommunications provider based in the United Arab Emirates, announced a collaboration with AWS to use 5G private networks and mobile edge computing to build prepackaged solutions for industrial use cases including energy, manufacturing, and logistics.
    • Aerospace: Boeing, a global manufacturer of airplanes and space systems, selected AWS as a strategic cloud provider to deliver tools to support more powerful, sustainable, and efficient aerospace design, engineering, and management solutions. Boeing will run high-performance computing workloads on AWS and plans to move many of their most important applications to AWS. Boeing will use AWS to streamline its approach to cloud computing as Boeing takes on ambitious engineering feats, like developing a more sustainable future of flight.
    • Sports: German national football league Bundesliga announced new Bundesliga Match Facts powered by AWS to give fans deeper insights into the action on the pitch, including Set Piece Threat, which provides information on a team’s scoring ability from plays such as free kicks and corner kicks, and Skill, which compares Bundesliga players to visualize the skills they bring to their teams and positions. The National Hockey League (NHL) and AWS announced Face-off Probability, a live in-game stat that instantly shows the odds of a player winning a face-off and possession of the puck. Maple Leaf Sports and Entertainment, the owner of some of Canada’s best-known sports franchises, including the Toronto Maple Leafs, Toronto Raptors, Toronto Football Club, and Toronto Argonauts, selected AWS as its official cloud provider and official provider of artificial intelligence, machine learning, and deep learning cloud services to create and deliver extraordinary sports moments and enhanced fan engagement.
    • Technology: Database platform MongoDB expanded its relationship with AWS, making it easier for joint customers to advance their cloud adoption journey. This includes integrated go-to-market activities, shared developer relations activities, and technology integrations to streamline the migration of on-premises workloads to MongoDB Atlas on AWS. Amdocs, a provider of software and services to communications and media companies, used AWS to implement a program enabling 12 billion secure, real-time online and offline business transactions per day in the cloud. Tech Mahindra, a provider of digital transformation, consulting, and business reengineering solutions, selected AWS to power an automation platform designed to accelerate the adoption and deployment of 5G networks by telecommunications carriers.
    • Health care and life sciences: THREAD, a clinical trials technology and service provider, is using AWS for real-time access to data and insights that will enable faster, more efficient, and less-costly clinical trials that optimize research and advance precision medicine.
  • AWS completed the launch of its first 16 Local Zones in the U.S. and announced plans for new Local Zones in 32 metropolitan areas in 26 countries around the world. AWS Local Zones is a type of infrastructure deployment that extends AWS Regions to place compute, storage, database, and other AWS services at the edge of the cloud near large population, industry, and information technology centers. These new Local Zones expand AWS’s infrastructure footprint globally beyond its existing 84 Availability Zones in 26 geographic regions, enabling AWS customers to build applications that deliver single-digit millisecond latency performance at the edge of the cloud to hundreds of millions of people worldwide.
  • AWS announced the general availability of Amazon Aurora Serverless v2, the next generation of the Amazon Aurora database that automatically scales in fine-grained increments in a fraction of a second—providing customers up to 90% cost savings compared to provisioning for peak capacity. Amazon Aurora Serverless v2 also includes Amazon Aurora’s capabilities for high availability, performance, and resiliency, with low latency and faster querying.
  • AWS announced the general availability of AWS IoT TwinMaker, which makes it significantly faster and easier for developers to create digital twins of real-world systems like buildings, factories, industrial equipment, and production lines—helping more customers build applications that improve operational efficiency and reduce downtime. Digital twins are virtual representations of physical systems that are regularly updated with real-world data to mimic the structure, state, and behavior of the objects they represent.
  • AWS announced the general availability of AWS Amplify Studio, a new visual development environment for creating rich user interfaces that extends the benefits of AWS Amplify to make it easier for developers to create fully customizable web applications with minimal coding in days instead of weeks.

Investing in Employees and Our Workplace

  • For the second year in a row, Amazon ranked No. 1 in the U.S. on LinkedIn’s annual Top Companies list, which identifies the best companies for career growth based on their ability to attract and retain the best talent, including through promotions, opportunities for employees of all backgrounds to gain new skills, company stability, and gender diversity.
  • For the sixth year in a row, Amazon ranked No. 2 on Fortune magazine’s World’s Most Admired Companies list, which evaluates corporate reputation based on factors such as quality of management and products, commitment to social responsibility, and ability to attract talent.
  • Amazon achieved the Top Employer Certification by the Top Employers Institute for 2022 in France, Italy, Poland, and Spain in recognition of Amazon’s quality work environment, professional development opportunities, and programs available to employees. In India, Amazon ranked No. 1 in Business Today magazine’s 2022 Best Companies to Work list, which highlights the company’s growth and learning opportunities, clarity of company goals, and flexibility at work.
  • Amazon launched the Welcome Door program in the U.S., a new initiative to provide additional resources and support to its refugee and humanitarian-based immigrant employees. Through the program, eligible Amazon employees will have access to reimbursement for Employment Authorization Document fees, a new citizenship assistance portal, free legal resources, English as a Second Language proficiency programs, and mentorship. Amazon will expand the program globally by the end of the year.
  • Amazon expanded its Career Choice program in the U.S. to include partnerships with more than 140 national and local universities and other schools to offer fully funded college tuition, high school completion and GED preparation courses, English as a Second Language programs, and college preparation courses. Career Choice is designed to help front-line employees grow their skills for careers at Amazon or elsewhere. This program—which is available to Amazon’s more than 750,000 hourly employees in the U.S.—helps move the company closer to meeting its Upskilling 2025 pledge, a $1.2 billion commitment to upskill more than 300,000 Amazon employees by 2025.
  • Amazon expanded its mental health benefits to provide employees, their families, and their household members in more than 50 countries worldwide with a single starting point for personalized, convenient, and confidential mental health and daily life support. These mental health benefits enhance existing benefits, which include 24/7 access to free, one-on-one counseling sessions, suicide prevention resources, and customized support.


Amazon Investor Relations

Dave Fildes, [email protected]

Amazon Public Relations

Dan Perlet, [email protected]

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