Amazon reported strong financial results for the holiday season, with $187.8 billion in revenue, a 10% increase year-over-year, and profits of $20 billion, significantly surpassing analyst forecasts. Despite positive earnings, the company's stock fell in after-hours trading due to lower-than-expected revenue guidance for the current quarter. Amazon notes a potential unfavorable impact from foreign exchange rates. Its online shopping revenue rose by 7%, while AWS performance showed a 19% increase, although slightly missing expectations.
Amazon's revenue for the holiday period totaled $187.8 billion, with profits of $20 billion and EPS of $1.86, surpassing analysts' expectations.
Although Amazon reported strong holiday earnings, its stock dipped due to disappointing guidance, expecting current quarter revenue to fall short of analyst projections.
The company cited 'an unusually large, unfavorable impact' from foreign exchange rates as a reason for lower expected revenue in the upcoming quarter.
Interestingly, while Amazon's online shopping revenue showcased a notable increase, its performance in the lucrative cloud computing sector slightly fell below expectations.
Collection
[
|
...
]