Amazon Beats Fourth-Quarter Revenue, but Gives Light Guidance
Amazon released first quarter guidance on Thursday. This was based on estimates and overshadowed by better-than-expected revenue in the fourth quarter. After hours, the stock fell, wiping out most of its gains from the regular trading day. These are the key numbers.
This time the earnings reported are comparable to Refinitiv’s analyst estimate of 18c per share.
Amazon ended its quarter century of public company growth with its lowest year. The year’s revenue increased by 9% due to rising rates and inflationary pressures. In 2022, the stock price fell by almost half of its value.
According to the e-retailer, it anticipates first quarter revenue between $121 billion to $126 billion. This would represent a 4% to 8% increase year over year. According to Refinitiv, analysts expected sales to reach $125.1 billion.
Amazon’s earnings report and Amazon’s Amazon Report are both available. Apple And Alphabet Wrap up the mixed earnings season of mega-cap tech companies.
Apple reported its initial revenue decline since 2016, and Alphabet failed to report earnings and revenue. Facebook parent Meta exceeded estimates on Wednesday and provided an optimistic outlook for its expenses.
