Amazon beats on fourth-quarter revenue but provides light guidance
Publishing timestamp: 2023-02-02 19:00:06
Summary
Amazon reported fourth-quarter sales that beat analysts' estimates, but issued first-quarter guidance that came in light of expectations. Amazon Web Services reported 20% sales growth, which was short of expectations. Amazon has been contending with slowing sales due to rising inflationary pressures and rising rates. CEO Andy Jassy has been working to reel in costs, and made a surprise appearance on the earnings call. Advertising revenue jumped 19%, outpacing other online ad companies. Operating income in the quarter came in at $2.7 billion, down from $3.5 billion year ago.
Sentiment: MIXED
Tickers: MSFT, GOOGL, AMZN, AAPL,
Keywords: alphabet class a, technology, breaking news: earnings, jeff bezos, earnings, amazon.com inc, microsoft corp, internet, business news, apple inc, breaking news: technology,
Source: https://www.cnbc.com/2023/02/02/amazon-amzn-earnings-q4-2022.html