Amazon Q4 results top estimates as e-commerce shines, cloud growth meets forecasts By

© Reuters — Amazon reported Thursday better-than-expected fourth-quarter results as cloud growth met expectations and e-commerce benefited from a strong holiday shopping season. Inc (NASDAQ:) rose more than 5% in afterhours trading following the report.

Amazon reported Q4 of $1.00 on revenue of $170.0 billion, beating estimates of $0.80 on revenue of $165.95B.

“This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon,” the company said, with sales in North America rising to $105.5B in the quarter from $93.36B a year earlier.

Amazon web services, its margin- heavy cloud revenue segment, which drives the bulk of operating profit grew 13%, to $24.2B, in-line with analyst estimates of 13%.

For the Q1, the company expects revenue of $138B to $143.5B, in-line with Wall Street estimates of $142.01B. Operating income for Q1 was guided in a range of $8.0B to $12.0B.

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