Amazon Reports 14% Q4 Sales Increase in 'Earnings Surprise'
Amazon announced on the 1st (local time) that its sales in the fourth quarter of last year increased by 14% compared to the same period of the previous year, reaching $170 billion (226.44 trillion KRW). Earnings per share were recorded at $1.00 (1,332 KRW).
Sales exceeded the market forecast of $166.2 billion compiled by market research firm LSEG, and earnings per share also surpassed the forecast of $0.80.
Sales of the cloud service Amazon Web Services (AWS) were at the same level as the forecast of $24.2 billion (approximately 32 trillion KRW) compiled by StreetCount. AWS sales increased by 13% compared to the same period last year, exceeding the previous quarter's growth rate of 12%. However, it did not reach the 20% growth rate seen in the first quarter of last year.
Advertising revenue recorded $14.7 billion (approximately 19 trillion KRW), slightly exceeding the expected $14.2 billion.
On this day, Amazon's stock price closed at $159.28, up 2.6%, on the New York Stock Exchange. After the earnings announcement, the stock price rose more than 7% in after-hours trading.
Hot Picks Today
"Two Spend 500,000 Won in a Flash, Yet Wait Two Hours?" ... 'Dreamland' Shunned by Kids and Foreign Tourists
- The Era of Getting 200 Million Won After 30 Years Is Over... A Japanese Bank's "Perpetual Department Head" Who Just Clocked In Cries Out
- Spain Hit by Its Worst Tragedy... Lee Kangin, Moreno and Real Madrid Join Soccer World in Mourning
- They Said, “Make It Your Home for Life” - Then Suddenly Kicked 200 Passengers Off... What Happened to the Around-the-World Cruise?
- "130 Rice Bowls Sold Out in a Day"... 'Unfiltered Face' Adds 8 Million Won to Night Market Sales: China's Bungeunwoo
The next earnings announcement date is May 1, with market forecasts of sales at $142.11877 billion and earnings per share at $0.68.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
