Amazon (AMZN -2.56%) reported earnings after the market closed on Thursday, and shares have taken a beating since the results came out. Most investors have focused on growth rates and margins, but the balance sheet is telling us a lot as well. In the video below, Travis Hoium highlights why it was changes on the balance sheet that caused a negative $19.7 billion in free cash flow over the past year, and why the challenges may not be over. 

*Stock prices used were end of day prices of Oct. 27, 2022. The video was published on Oct. 28, 2022.