© Reuters
Investing.com — Shares in Amazon.com (NASDAQ:) rose in premarket U.S. trading on Friday after the e-commerce giant reported better-than-expected fourth-quarter results thanks to solid cloud growth and a strong holiday shopping season.
Amazon reported of $1.00 on revenue of $170.0 billion for the three months ended on Dec. 31, beating estimates of $0.80 on revenue of $165.95B.
“This [fourth quarter] was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon,” the company said. Sales in North America rising to $105.5B during the period from $93.36B a year earlier.
Amazon Web Services, its margin-heavy cloud revenue segment that drives much of its operating profit, grew 13% to $24.2B, in-line with analyst estimates of 13%.
For the first quarter, the company expects revenue of $138B to $143.5B. Analysts were calling for guidance of $142.01B. Operating income is anticipated to be between $8.0B to $12.0B.
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