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Amazon Earnings Beat Expectations in Q4

EPS of 78 Cents Surpasses Wall Street Forecast

Revenue Grows 14% to $170 Billion

Amazon (AMZN) reported strong financial results for its fourth quarter ended December 31, 2023. The e-commerce giant beat Wall Street expectations on both earnings per share (EPS) and revenue.

EPS came in at 78 cents, exceeding the consensus estimate of 75 cents. Revenue increased by 14% year-over-year to $170 billion, driven by strong growth in its cloud computing and advertising businesses.

Amazon's cloud computing platform, Amazon Web Services (AWS), continues to be a major growth driver for the company. In Q4, AWS revenue grew by 20% to $21.4 billion.

Amazon's advertising business is also growing rapidly. In Q4, advertising revenue increased by 16% to $11.6 billion.

Overall, Amazon's Q4 results show that the company is continuing to perform well despite the challenging macroeconomic environment. The company's strong growth in cloud computing and advertising is expected to continue driving its financial performance in the future.

Business Insider