Amazon ends year on strong note but forecasts weak upcoming quarter Robust fourth-quarter earnings take into account holiday shopping season, but first-quarter estimates disappoint.
“The holiday shopping season was the most successful yet for Amazon and we appreciate the support of our customers, selling partners, and employees who helped make it so,” Amazon’s CEO, Andy Jassy, said in a statement.
Amazon outdid Wall Street’s expectations with its earnings from the fourth quarter of 2024 on Thursday but forecast a weak upcoming quarter.
The robust earnings take into account the strong holiday shopping season, which showed a 8.7% year-over-year surge of online spending in November and December, according to Adobe Analytics.
The retail giant ended the year on a strong note, reporting $187.79bn in revenue and $1.86 per share, beating analysts’ estimates of revenue of $187.3bn and share price at $1.49.
