After saying that it could have no operating profit at all in the fourth quarter, Amazon tops $14 billion in net income, with a huge chunk coming from investment in Rivian electric-vehicle startup
Amazon.com Inc. executives thought that supply-chain and staffing concerns could wipe away their holiday profit.
They were wrong.
Amazon reported fourth-quarter profit of $14.3 billion, or $27.75 a share, after reaping earnings of $11.73 a share in the holiday season a year ago, with $11.8 billion attributed to the company’s investment in Rivian Automotive Inc. which went public in the quarter.
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