Amazon's Fourth Quarter Earnings Report

SOURCE www.geekwire.com
Amazon beats Wall Street's overall expectations with $187.8 billion in net sales for the fourth quarter, driven by strong earnings and profits. However, growth in Amazon Web Services (AWS) cloud unit was slightly lower than expected. AWS sales accounted for 15% of Amazon's total sales but contributed more than 50% of the company's overall operating profits.

Key Points

  • AWS operating profits top $10 billion
  • AWS sales contribute more than 50% of Amazon's overall operating profits
  • Amazon's total sales driven by the 2024 holiday shopping season

Pros

  • Strong net sales of $187.8 billion, up 10%
  • Earnings of $1.86 per share surpassing expectations
  • Quarterly profits surpass $20 billion for the first time

Cons

  • AWS cloud unit growth slightly lower than expected
  • Amazon shares slipped about 2% in after-hours trading