Today's Edition
San Jose (dpa)
Amazon disappointed the stock market with its forecast for the current quarter on Thursday, with its stock falling by more than 3% at times in after-hours US trading.
The world's largest online retailer exceeded experts' forecasts with its key figures for the Christmas quarter.
In the fourth quarter of 2024, net sales rose by 10% year-on-year to $187.8 billion. Profit almost doubled to $20 billion. Revenue from the AWS cloud division, which is benefiting from the AI boom, rose by 19% to $28.8 billion, in line with expectations.
However, Amazon predicted net sales to be between $151 billion and $155.5 billion for the current quarter. Analysts had on average expected a forecast of over $158 billion. Amazon pointed out that the stronger dollar will make international business revenue appear lower.
