SEATTLE--(BUSINESS WIRE)-- Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2022.
Fourth Quarter 2022
- Net sales increased 9% to $149.2 billion in the fourth quarter, compared with $137.4 billion in fourth quarter 2021. Excluding the $5.0 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 12% compared with fourth quarter 2021.
- North America segment sales increased 13% year-over-year to $93.4 billion, or increased 14% excluding changes in foreign exchange rates.
- International segment sales decreased 8% year-over-year to $34.5 billion, or increased 5% excluding changes in foreign exchange rates.
- AWS segment sales increased 20% year-over-year to $21.4 billion.
- Operating income decreased to $2.7 billion in the fourth quarter, compared with $3.5 billion in fourth quarter 2021. Fourth quarter 2022 operating income includes approximately $2.7 billion of charges for changes in estimates related to self-insurance liabilities, impairments of property and equipment and operating leases, and estimated severance costs. These charges primarily impacted the North America segment.
- North America segment operating loss was $0.2 billion, compared with operating loss of $0.2 billion in fourth quarter 2021.
- International segment operating loss was $2.2 billion, compared with operating loss of $1.6 billion in fourth quarter 2021.
- AWS segment operating income was $5.2 billion, compared with operating income of $5.3 billion in fourth quarter 2021.
- Net income decreased to $0.3 billion in the fourth quarter, or $0.03 per diluted share, compared with $14.3 billion, or $1.39 per diluted share, in fourth quarter 2021. All share and per share information for comparable prior year periods throughout this release have been retroactively adjusted to reflect the 20-for-1 stock split effected on May 27, 2022.
- Fourth quarter 2022 net income includes a pre-tax valuation loss of $2.3 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation gain of $11.8 billion from the investment in fourth quarter 2021.
Full Year 2022
- Net sales increased 9% to $514.0 billion in 2022, compared with $469.8 billion in 2021. Excluding the $15.5 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 13% compared with 2021.
- North America segment sales increased 13% year-over-year to $315.9 billion.
- International segment sales decreased 8% year-over-year to $118.0 billion, or increased 4% excluding changes in foreign exchange rates.
- AWS segment sales increased 29% year-over-year to $80.1 billion.
- Operating income decreased to $12.2 billion in 2022, compared with $24.9 billion in 2021.
- North America segment operating loss was $2.8 billion, compared with operating income of $7.3 billion in 2021.
- International segment operating loss was $7.7 billion, compared with operating loss of $0.9 billion in 2021.
- AWS segment operating income was $22.8 billion, compared with operating income of $18.5 billion in 2021.
- Net loss was $2.7 billion in 2022, or $0.27 per diluted share, compared with net income of $33.4 billion, or $3.24 per diluted share, in 2021.
- 2022 net loss includes a pre-tax valuation loss of $12.7 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation gain of $11.8 billion from the investment in 2021.
- Operating cash flow increased 1% to $46.8 billion for the trailing twelve months, compared with $46.3 billion for the trailing twelve months ended December 31, 2021.
- Free cash flow decreased to an outflow of $11.6 billion for the trailing twelve months, compared with an outflow of $9.1 billion for the trailing twelve months ended December 31, 2021.
- Free cash flow less principal repayments of finance leases and financing obligations increased to an outflow of $19.8 billion for the trailing twelve months, compared with an outflow of $20.4 billion for the trailing twelve months ended December 31, 2021.
- Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to an outflow of $12.8 billion for the trailing twelve months, compared with an outflow of $14.3 billion for the trailing twelve months ended December 31, 2021.