Amazon rocking, $137.4b in last quarter
Amazon is rocking it in the market; $137.4b revenue in last quarter. The market cap is up 15% today.
Rounding out the week in big tech earnings, Amazon reported a 9% bump in sales in its fourth quarter, as folks continue to lean heavily on the e-commerce giant for deliveries. Revenue was slightly below what was expected, reporting $137.4 billion vs. $137.6 billion, per Refinitiv data. And Prime members, look out for a bump in your annual fee: Amazon will now be charging $139 (up from $119) for the service.
Shares of the tech giant went up as far as 14% in after-hours trading following the news. The robust profit result was powered by the company's management of labor and supply chain issues and potent returns from its cloud computer business, per The Wall Street Journal.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.