SEATTLE–Apr. 28, 2022– Amazon.com, 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.
  • 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.”

Shopping Highlights

  • 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 Amazon.com. 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 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. 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.