How Rivian Drove Amazon's Big Fourth-Quarter Result
E-commerce giant Amazon (NASDAQ: AMZN) reported its fourth-quarter and 2021 full-year results on Feb. 3. The response from investors was overwhelmingly positive, sending its stock almost 20% higher in after-hours trading.
While Amazon is best known for its dominance in e-commerce, the company is now a collection of diverse businesses like cloud computing, advertising, and even electric vehicles (EVs) -- indirectly -- through its 18% stake in Rivian Automotive (NASDAQ: RIVN). Its investment in the EV maker was responsible for 82% of Amazon's fourth-quarter net income.
Rivian's stock has since fallen dramatically in 2022, so investors shouldn't expect the company's earnings to be carried by the investment forever. But still, Amazon's core businesses are delivering remarkable growth even without it.
Source Fool.com
