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Amazon Profit Shows Resilience Even as Labor, Supply Crunch Weigh on Results

Amazon Profit Shows Resilience Even as Labor, Supply Crunch Weigh on Results
Copyright  Jeremy M. Lange for The Wall Street Journal
By Dow Jones & Company

Amazon.com Inc. said profit nearly doubled in the critical holiday period, as the company managed to control labor and supply costs better than expected and saw gains in its cloud-computing and advertising businesses.

The company saw a huge boost in the quarter from its investment in electric vehicle-maker Rivian Automotive Inc. That added nearly $12 billion in profits, accounting for the majority of its earnings for the quarter.

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