Netease technology news, January 31 news, according to foreign media reports, on Thursday local time, Amazon (NASDAQ: AMZN) released its fourth quarter results as of December 31, 2019. According to the financial report, Amazon's revenue in the fourth quarter was $87.4 billion, an increase of 21% compared with the same period last year; its operating profit increased to $3.9 billion, its net profit increased to $3.3 billion, and its diluted earnings per share exceeded analysts' expectations by $6.47. Amazon shares surged by more than 10% after the results were released.
Here are the highlights of Amazon's financial statements for the fourth quarter of 2019 and the whole year:
Amazon's revenue grew 21% in the fourth quarter, indicating that the company's investment in faster transportation is generating more purchases. Last quarter, Amazon claimed that customers had made record purchases during the holiday season, and said delivery volumes tripled during that period.
Amazon also gave an upbeat outlook for the first quarter of 2020, saying it now expects revenue between $69 billion and $73 billion, up 16 percent to 22 percent from the first quarter of 2019, and operating profit between $3 billion and $4.2 billion, compared with $4.4 billion a year earlier. Amazon Chief Financial Officer Brian
As expected, Amazon's global transportation costs increased significantly in the fourth quarter, up 43% year-on-year, to $12.9 billion. In its October earnings report, the company said it would spend $1.5 billion during the holiday shopping season to expand its delivery service.
Amazon's net income rebounded in the quarter, despite increasing investment. Its net profit rose 8% year-on-year to $3.3 billion, surpassing analysts' forecast of $2 billion. Amazon's net profit fell 26% in the third quarter as the cost of delivery services increased.
Amazon's subscription revenue has steadily increased in the past few quarters. Revenue from subscription services, including Prime membership fees, as well as music unlimited and prime video channels, was $5.24 billion in the quarter, up 32% year-on-year. In its earnings release, Amazon said music unlimited subscribers grew by more than 50% in 2019.
In addition to the retail business, Amazon's cloud computing business AWS reported revenue of $9.95 billion, an increase of 34% over the same period last year. This exceeded analysts' expectations of $9.81 billion, but was still slightly slower than in the third quarter, when AWS revenue grew 35%. AWS's operating profit was $2.6 billion, up 19% year-on-year, higher than analysts' consensus forecast of $2.45 billion.
Amazon founder and chief executive Jeff
Amazon shares closed up 0.68% at $1870.68 on Thursday local time. However, after the financial report was released, the stock rose by more than 10% in after hours stimulated by the performance exceeding the market expectation. (small)
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