tiprankstipranks
Amazon reports Q4 EPS 3c with Rivian loss, consensus 17c
The Fly

Amazon reports Q4 EPS 3c with Rivian loss, consensus 17c

Reports Q4 revenue $149.2BB, consensus $145.42B. ""Our relentless focus on providing the broadest selection, exceptional value, and fast delivery drove customer demand in our Stores business during the fourth quarter that exceeded our expectations-and we’re appreciative of all our customers who turned to Amazon this past holiday season. We’re also encouraged by the continued progress we’re making in reducing our cost to serve in the operations part of our Stores business. In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon. The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years. When you also factor in our investments and innovation in several other broad customer experiences (e.g. streaming entertainment, customer-first healthcare, broadband satellite connectivity for more communities globally), there’s additional reason to feel optimistic about what the future holds," said Andy Jassy, Amazon CEO. Net income decreased to $0.3B in the fourth quarter, or 3c per diluted share. Fourth quarter 2022 net income includes a pre-tax valuation loss of $2.3B included in non-operating income from the common stock investment in Rivian Automotive (RIVN).

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on AMZN:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles