Amazon’s stock price rose on news of strong earnings for the fourth quarter. Amazon (AMZN) released fourth-quarter results late Thursday, which fell short of revenue forecasts but beat estimates handily in terms of earnings.
Amazon stock jumps surpassing analyst expectations
Adjusted earnings of $27.75 per share on revenue of $137.4 billion was reported by the firm, which surpassed analyst expectations. According to FactSet, analysts anticipated Amazon to report adjusted earnings of $3.61 per share on revenue of $137.7 billion. Revenue increased 9% from the same quarter a year ago.
The famous e-commerce company reported adjusted earnings of $3.61 per share on revenue of $137.7 billion, exceeding FactSet expectations by 9%. Analysts predicted Amazon’s adjusted earnings to be $3.61 per share on revenue of $137.7 billion. Compared to the Q4 of 2020, the company’s revenue experienced an increase of 9% in Q4 of 2021.
After the earnings report of Amazon, the company’s stock rose 16 percent in after-hours trading today, closing at $3,220 on the stock market.
The firm expects first-quarter revenue to range between $112 billion and $117 billion, which is lower than analyst predictions of $120.9 billion, according to FactSet.
The company also revealed that nonoperating income from its investment in electric truck maker Rivian Automotive (RIVN) contributed $11.8 billion to the net income in the fourth quarter.
AWS, the firm’s cloud computing business, reported $17.8 billion in sales, topping forecasts of $17.4 billion.