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Amazon
Q4 Financial Results
AMZN today announced financial results for its fourth quarter ended December 31 2022.
Key Financial Metrics
Net sales increased 15% to $127.1 billion in the fourth quarter, compared with $110.8 billion in the fourth quarter of 2021. Net income was $4.3 billion, or $4.66 per diluted share, compared with net income of $14.3 billion, or $14.09 per diluted share, in the fourth quarter of 2021.
Operating income decreased to $4.4 billion in the fourth quarter, compared with $6.7 billion in the fourth quarter of 2021. The decrease in operating income was primarily due to the company's continued investment in its logistics and fulfillment network, as well as higher employee compensation expenses. Amazon's net income also declined due to a loss of $2.7 billion from its investment in Rivian Automotive, a maker of electric vehicles.
Common Stock is expected to report earnings on Thursday, May 5, 2023. Analysts expect the company to report earnings of $1.73 per share on revenue of $12.1 billion.
Amazon's stock price has fallen by about 30% in the past year, but the company's long-term prospects remain bright. Amazon is the largest online retailer in the world, and it has a rapidly growing cloud computing business. The company is also investing heavily in new technologies, such as artificial intelligence and robotics. Amazon is well-positioned to continue to grow in the future and grow shareholder equity.
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