Amazon records record net sales of $140 billion in holiday quarter
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San Francisco (Uttam Hindu News): 31 Amazon’s net sales rose 14 percent to $170 billion in the holiday quarter ending December 2023, compared to $149.2 billion in the fourth quarter of 2022. Amazon CEO Andy Jassy said the last holiday quarter was “record-breaking.”
Net income increased to $10.6 billion in the fourth quarter of 2023, compared to $0.3 billion in the fourth quarter of 2022. Amazon Web Services (AWS) segment sales increased 13 percent year-over-year to $24.2 billion. “This fourth quarter was a record-breaking holiday shopping season and ends 2023 with a strong year for Amazon,” Jassy said.
He further added, “As we enter 2024, our teams are performing at pace, and we have a lot to be excited about. Amazon has also introduced a new AI chatbot named ‘Rufus’, which will help customers find more products to buy on its platform. For 2023, net sales are projected to increase 12 percent to $574.8 billion, compared to $514.0 billion in 2022.
“For the full year, AWS segment sales increased 13 percent year-over-year to $90.8 billion,” Amazon said. Net income in 2023 was $30.4 billion or $2.90 per diluted share, while net loss in 2022 was $2.7 billion or $0.27 per diluted share. “While we have made meaningful progress in revenue, operating income and free cash flow, what we are most pleased with is the continued innovation and improvement in customer experience across our businesses,” Jassy said.
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