Amazon.com Sees Fourth Quarter Gains

Amazon.com Inc. had net sales of $149.2 billion in the fourth quarter of 2022, up nine per cent compared to net sales of $137.4 billion from the year-ago period. Net sales by North American segment were $93.4 million in 2022, a rise of 14 per cent versus net revenue of $82.3 million in the prior-year period. Net income was $278 million, compared to $14.3 billion year-over-year. 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.