Amazon shares fell more than 4% in extended trading on Thursday after the company reported weaker-than-expected <\/p>\n\n\n\n
Amazon posted a significant profit outperformance for the fourth quarter, buoyed by gains from its investment in electric vehicle company Rivian.<\/p>\n\n\n\n
The company also revealed revenues from its fast-growing advertising business for the first time.<\/p>\n\n\n\n
On Thursday, Amazon said revenue jumped 9% last quarter, and the company reported a gain of about $12 billion from its investment in electric car company Rivian.<\/p>\n\n\n\n
Earnings per share amounted to $5.80 versus $3.57 expected, while revenue reached $137.4 billion versus $137.6 billion expected.<\/p>\n\n\n\n
AWS revenue came in at $17.8 billion, versus $17.37 billion expected.<\/p>\n\n\n\n
Amazon was guided by first-quarter revenue of between $112 billion and $117 billion, below the average estimate of $120 billion.<\/p>\n\n\n\n
Operating profit for the fourth quarter will range from $3 billion to $6 billion.<\/p>\n\n\n\n
Fourth-quarter sales grew 9.4% to $137.4 billion.<\/p>\n\n\n\n
This is Amazon’s first period of growth since 2017.<\/p>\n\n\n\n
Even with the weaker-than-expected sales number and disappointing guidance, Amazon gave investors enough confidence that growth would recover.<\/p>\n","protected":false},"excerpt":{"rendered":"
Amazon shares fell more than 4% in extended trading on Thursday after the company reported weaker-than-expected Amazon posted a significant profit outperformance for the fourth quarter, buoyed by gains from its investment in electric vehicle company Rivian. The company also revealed revenues from its fast-growing advertising business for the first time. On Thursday, Amazon said …<\/p>\n","protected":false},"author":9,"featured_media":45157,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6933,7918,7113,7919,7349,7492,7796,7563],"class_list":["post-59619","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-amazon","tag-amazon-shares","tag-earnings","tag-physical-shoping","tag-profits","tag-shipping","tag-shortages","tag-supply-chain-difficulties"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/59619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=59619"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/59619\/revisions"}],"predecessor-version":[{"id":59620,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/59619\/revisions\/59620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/45157"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=59619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=59619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=59619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}