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Amazon Rises After Big Q4 Beat, Net Sales Up 38%

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Amazon Rises After Big Q4 Beat, Net Sales Up 38%
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Amazon.com, Inc. (NASDAQ: AMZN) shares reversed loses from the regular session after delivering a fourth quarter earnings beat.

The e-commerce giant reported Q4 adjusted earnings of $2.15 per share, beating estimates by 35 cents. Sales came in at $60.5 billion, beating estimates by $670 million.

"Our 2017 projections for Alexa were very optimistic, and we far exceeded them. We don't see positive surprises of this magnitude very often — expect us to double down," said Jeff Bezos, founder and CEO. "We've reached an important point where other companies and developers are accelerating adoption of Alexa. There are now over 30,000 skills from outside developers, customers can control more than 4,000 smart home devices from 1,200 unique brands with Alexa, and we're seeing strong response to our new far-field voice kit for manufacturers."

Amazon reported Q1  sales guidance in the range of $47.75 billion-$50.75 billion. Click here to see the full release.

Q4 Highlights

  • 5 billion items shipped with Prime worldwide
  • More new paid members joined Prime in 2017 than any previous year — both worldwide and in the U.S.
  • Net Sales Increased 38 percent year-over-year
  • Fire TV stick and Echo Dot were the best selling products in 2017

The stock traded around $1,428 in after-hours trading, up 2.6 percent at time of publication. Former Piper Jaffray tech analyst Gene Munster will be on Benzinga's PreMarket Prep Friday at 1 p.m. ET to break down the earnings report.

Related Links:

Amazon Earnings Preview: Will Q4 Report Satisfy Investors?

Amazon Vs. Walmart: Who Wins A Head-To-Head Price Battle?

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Posted-In: Alexa Amazon Prime Jeff BezosEarnings News After-Hours Center Movers Best of Benzinga

 

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