3 Key Things From Amazon's Earnings Call Investors Should Know
On Friday, shares of Amazon (NASDAQ: AMZN) jumped 7.9%, following the e-commerce and cloud computing leader's release on the prior afternoon of better-than-expected fourth-quarter 2023 results. The quarter's revenue and earnings both easily exceeded Wall Street's expectations. First-quarter 2024 revenue guidance, however, was a bit lighter than analysts had been projecting.
In the fourth quarter, Amazon's revenue grew 14% year over year to $170 billion, beating the $166.2 billion analyst consensus estimate. Net income was $10.6 billion, or $1 per share, up 3,233% from $0.03 per share in the year-ago quarter. Wall Street was looking for earnings per share (EPS) of $0.80.
Earnings releases tell only part of the story. Below are three key things that management discussed on Amazon's Q4 2023 earnings call that you should know.
Source Fool.com
