The result is higher than the e-commerce giant’s forecast in a context where inflation is weighing on consumer spending.
Amazon announced on Thursday that it achieved sales of $149.2 billion in the fourth quarter of 2022, a result higher than its forecasts and market expectations, in an environment where inflation weighs on consumer spending. But the e-commerce giant made a cautious forecast for the current quarter in its earnings release on Thursday: revenue of between $121 billion and $126 billion, instead of the $125 billion expected by the consensus of analysts from Factset. .
The American group is also counting on an operating profit of between 0 and 4 billion dollars. The market expects 4 billion for this key indicator of the platform’s profitability. On Wall Street, its title lost more than 6% during electronic trading after the close of trading. “We are encouraged by the progress we are making in terms of cost reductions“said Andy Jassy, the boss of Amazon, quoted in the press release.
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The group announced in early January the elimination of more than 18,000 jobs. At the end of September, it had 1.54 million employees worldwide, not including seasonal workers recruited during periods of increased activity, particularly during the holiday season. “In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities”added Andy Jassy.