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Amazon 4Q Earnings exceed estimates, propelling stock higher

Published 2024-02-01, 04:33 p/m
© Reuters.  Amazon 4Q Earnings exceed estimates, propelling stock higher
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Proactive Investors - Amazon.com Inc (NASDAQ:AMZN, ETR:AMZ) reported robust fourth-quarter earnings on Thursday, outperforming analysts' expectations and driving a surge in its stock during after-hours trading.

The eCommerce giant reported an EPS of $1, surpassing the estimated $0.78.

The company's quarterly revenue reached $170 billion, outpacing the estimated $166.3 billion.

The advertising segment contributed $14.7 billion, surpassing the estimated $14.2 billion.

However, Amazon Web Services net sales for Q4 2023 stood at $24.2 billion, slightly below the estimated $24.22 billion.

But the firm provided an optimistic outlook for 1Q, projecting net sales between $138 billion to $143.5 billion, against the estimated $142.01 billion.

Shares of Amazon were up around 5.7% in aftermarket trading on Thursday following the earnings beat.

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