Amazon Q4 Earnings Highlights
Amazon (NASDAQ: AMZN) reported a 14% increase in net sales for Q4 2023, reaching $213.4 billion, exceeding its revenue guidance. The company’s cloud computing division, Amazon Web Services (AWS), experienced a significant 24% year-over-year growth, marking its fastest rate in over three years.
In addition, Amazon’s subscription services revenue rose by 14% to $13.1 billion, while advertising services saw a 23% increase to $21.3 billion. The company anticipates a revenue growth of 11% to 15% for Q1 2024, driven by the increasing demand for its cloud services and related technologies.
Despite these strong results, Amazon’s stock fell approximately 10% in after-hours trading following the announcement, as the market reacted to the capital-intensive nature of its planned $200 billion investments by 2026.
