Amazon (AMZN) Announces Fourth Quarter Earnings
Earnings Per Share Beat Estimates, Revenue Falls Short
Key Takeaways from the Earnings Report
Amazon.com, Inc. (AMZN) reported its financial results for the fourth quarter ended December 31, 2022. The company announced earnings per share of $0.03, beating analysts' estimates of $0.17. However, revenue fell short of expectations, coming in at $149.2 billion versus the estimated $155.1 billion.
Despite the revenue shortfall, Amazon's earnings per share beat estimates due to cost-saving measures implemented in the quarter. The company also benefited from strong growth in its cloud computing business, Amazon Web Services (AWS).
For the full year 2022, Amazon reported earnings per share of $1.58, down from $4.77 in 2021. Revenue for the year came in at $514.0 billion, up from $477.5 billion in 2021.
Amazon's stock price has been under pressure in recent months, falling from a high of over $180 in April 2022 to around $100 today. The company has been impacted by a number of factors, including rising inflation, supply chain disruptions, and increased competition.
Despite the challenges, Amazon remains a dominant force in the e-commerce and cloud computing industries. The company's latest earnings report shows that it is still growing, albeit at a slower pace than in the past.
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