Amazon Q4 Earnings Clear The Bar In Strong Holiday Showing, But Stock Sags Due To Outlook For Q1

deadline.com:

Amazon delivered a strong set of financial results in the fourth quarter, with revenue in the holiday span rising 10% from a year ago to $187.8 billion and earnings nearly doubling to $1.86.

Shares in the tech giant slumped on the earnings news, however, as it contained worse-than-expected guidance for the first quarter.

After closing the regular trading day at $238.83, up 1%, shares fell 2% in after-hours trading. Analysts had expected earnings per share of $1.49, up from $1 in the year-ago period.

Revenue was pegged at $187.3 billion, compared with $170 billion in the 2023 frame. In the current, first quarter, the company projects sales to grow by 5% to 9% over year-ago levels, to $151 billion to $155.5 billion.