Amazon had a better holiday quarter than expected but its worst annual loss in years
by Jay Peters from The Verge - All Posts on (#68FKP)
Amazon reported its Q4 earnings on Thursday. | Illustration by Alex Castro / The Verge Amazon had better net sales during its holiday quarter than even its best projections, but the results still show a company struggling with economic slowdowns across its divisions.
Net sales were up 9 percent year over year, according to Amazon's just-released Q4 2022 earnings, surpassing the company's guidance it gave last quarter that growth would be up between 2 and 8 percent year over year. That said, it was its least profitable Q4 ever; the company earned $0.3 billion for quarter, a sharp drop from $14.3 billion a year before.
And for the full year, the company posted a net loss of $2.7 billion, its first since 2014 and reversing a trend of rising annual profits and booming growth during the pandemic. Substantially at fault for...