Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Amazon announces revenues of $170bn for peak Christmas period

by February 2, 2024
February 2, 2024
Amazon announces revenues of $170bn for peak Christmas period

Amazon has announced revenues of $170 billion in the final quarter of 2023 thanks to a boost in Christmas shopping.

The retail giant’s financial results beat analysts’ expectations and sent shares soaring by more than 8 percent in after-hours trading.

Revenue in the fourth quarter rose by 14% compared to the same period last year. Analysts on average expected revenue of $166.21 billion, according to LSEG data.

Amazon Web Services (AWS), which is the largest cloud services unit in the world, brought in revenue of $24.2 billion in the fourth quarter, compared with analysts’ expectations of $24.26 billion.

Amazon – whose founder and chairman Jeff Bezos has a net worth of $183.41 billion – had its earnings bolstered by consumer spending over Christmas.

In what is seen as a boost to e-commerce firms, households splurged on goods and services over the holidays, despite high interest rates, a reports showed last week.

Meanwhile, growth at Alphabet and Microsoft’s cloud units beat market expectations as customers wanted to test new AI features and build them for their own applications.

The company forecast current-quarter revenue in the range of $138 billion and $143.5 billion. Analysts polled by LSEG were expecting revenue of $142.13 billion.

Net income rose to $10.6 billion in the fourth quarter from $278 million, a year earlier.

It comes as Meta shares also soared 15 percent in extended trading after the company tripled its profit and posted sharply higher revenue in the final quarter of 2023.

The California-based tech giant announced it earned $14 billion, or $5.33 per share, from October to December last year – up from $4.65 billion, or $1.76 per share, a year prior.

Revenue, meanwhile, jumped 25 percent in the quarter to $40.11 billion. This was up from $32.2 billion a year earlier – the fastest growth for any period since mid-2021 – as its online ad market continued to rebound.

CEO Mark Zuckerberg said in a statement: ‘We had a good quarter as our community and business continue to grow. We’ve made a lot of progress on our vision for advancing AI and the metaverse.’

The company, which owns Facebook, Instagram and WhatsApp, also announced its first ever quarterly dividend of 50 cents a share and an additional $50 billion in share buybacks.

Read more:
Amazon announces revenues of $170bn for peak Christmas period

0
FacebookTwitterGoogle +Pinterest
previous post
Facebook-owner Meta triples income to $14bn in last quarter of 2023
next post
Rail strikes create a further £350M hole in hospitality sector with many tipping into administration

You may also like

Over 80 per cent of firms have changed...

October 2, 2023

FCC Pushing For TikTok Ban In The US,...

December 5, 2022

Brexit Import Charges Unveiled: Fears of Food Price...

April 4, 2024

Evolve Business Group secures multi-million-pound BGF investment to...

August 5, 2024

Petition launched as 4 in 5 UK businesses...

June 21, 2025

Almost no trains are running across the whole...

January 5, 2023

This Startup Is The Growth Engine of Growth...

September 14, 2022

MPs propose levy on arena concert tickets to...

May 12, 2024

HSBC buys Silicon Valley Bank’s UK business for...

March 13, 2023

HS2 reveals £2bn costs from Sunak’s downgrade of...

July 30, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • America’s Not-So-Secret Secret Police

      August 7, 2025
    • Poll: Nearly 1 in 4 Americans Think They Have a Personal Social Security Account

      August 7, 2025
    • Republican senator claims RFK Jr. mRNA vaccine decision undermines Trump agenda

      August 7, 2025
    • Who is Anita Dunn? The Biden confidante who clashed with Hunter grilled in House autopen probe

      August 7, 2025
    • Case v. Montana Brief: Limit Loopholes to the Fourth Amendment

      August 7, 2025
    • Trump opens $9tn US retirement market to crypto in landmark executive order

      August 7, 2025

    Categories

    • Business (8,704)
    • Investing (2,184)
    • Politics (16,333)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved