2024-02-01 16:28:16 ET
Amazon.com Inc (NASDAQ: AMZN) just reported better-than-expected financial results for its fiscal fourth quarter. Shares of the tech titan are up 3.0% at writing.
Here’s how AWS did in the fourth quarter
Investors are cheering partially because Amazon Web Services that typically is the strongest segment for the multinational did well in Q4.
The cloud-computing platform brought in $24.2 billion in revenue (up 13% year-on-year) which was in line with Street estimates. Andy Jassy – the chief executive of Amazon.com Inc said in a press release today:
Also on Thursday, Amazon announced Rufus – a new artificial intelligence enabled assistant for shopping. is now up nearly 15% versus its year-to-date low.
Notable figures in Amazon Q4 earnings release
Earned $10.6 billion versus the year-ago $300 million
Per-share earnings also climbed from 3 cents to $1.0
Revenue jumped 14% year-over-year to $170 billion
Consensus was 80 cents a share on $166.2 billion revenue
Advertising revenue climbed a more than expected 27%
Amazon now forecasts its sales to fall between $138 billion to $143.5 billion in its current quarter. Analysts were at $142.1 billion instead. CEO Jassy also said on Thursday:
This is a developing story. Check back in a few minutes for more updates!
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