Thursday saw Amazon release better-than-expected fourth-quarter results, with e-commerce benefiting from a robust holiday shopping season and cloud growth meeting projections.
Following the report, Amazon.com Inc. (NASDAQ:AMZN) increased more than 5% in after-hours trading.
With $170.0 billion in revenue, Amazon exceeded analysts' expectations for Q4 EPS of $0.80 on $165.95 billion in revenue.
The company stated, "This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon." North American sales increased to $105.5 billion in the quarter from $93.36 billion in the same period last year.
The majority of operating profit comes from Amazon Web Services, a cloud revenue segment with high margins that grew 13% to $24.2 billion, in line with analyst estimates of 13%.
In line with Wall Street estimates of $142.01 billion, the company projects revenue for the first quarter of $138 billion to $143.5 billion. A range of $8.0B to $12.0B was indicated for operating income in the first quarter.
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