Amazon Announces Financial Results
Q4 Earnings Beat Estimates
Company Reports Strong Holiday Season Performance
AMZN today announced financial results for its fourth quarter ended December 31, 2023. The company reported revenue of $157.4 billion, up 9% year-over-year. Net income came in at $30.3 billion, up 21% year-over-year.
The company's strong performance was driven by its e-commerce business, which saw a boost from the holiday season. Amazon's cloud computing business, Amazon Web Services (AWS), also continued to grow rapidly, with revenue increasing by 20% year-over-year.
Analysts had expected Amazon to report earnings per share of $16.41, but the company exceeded those expectations, reporting earnings per share of $17.78.
The company's stock price rose 10% in after-hours trading following the release of the financial results.
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