Amazon (AMZN) takes $3.9 billion writedown in Q2 2022 on Rivian (RIVN) investment

Amazon's (AMZN) investment in Rivian (RIVN) caused woes for the stock this quarter.


Amazon’s (AMZN) Q2 2022 earnings report landed earlier today and showed that the company beat on revenue and EPS expectations. However, there was a bit more to the story than just those two stats. The company recorded a net loss of $2 billion in the second quarter, and that can be primarily attributed to its investment in Rivian (RIVN). Amazon (AMZN) lost $3.9 billion on its Rivian (RIVN) investment, as the electric vehicle company’s stock plummeted over the quarter.

It’s on the first page of Amazon’s (AMZN) Q2 2022 earnings report that we get further insight on its business. Under the final bullet point, the company states that it recorded a net loss of $2 billion, with $3.9 billion of those losses coming from its Rivian (RIVN) investment. Some quick basic math tells us that Amazon wouldn’t have been looking at a net loss at all if it weren’t for the abysmal quarter for Rivian (RIVN) stock.

Rivian's stock over the last quarter, consistently decreasing in value.

Amazon further discussed its business with Rivian and its electric vehicle plans later on in the earnings report.

This of course comes from Amazon’s (AMZN) Q2 2022 earnings report, which showed a revenue and EPS beat for the company. For more on the latest business happenings at Amazon, stick with Shacknews.

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

From The Chatty
Hello, Meet Lola