Amazon reported fourth-quarter earnings slightly below Wall Street estimates even as sales surged and it reported the fastest growth in its prominent cloud computing business in 13 quarters.
The Seattle-based online behemoth on Thursday reported net income of USD 21.2 billion, or USD 1.95 per share, for the three-month period ended December 31. That compares with USD 20 billion, or USD 1.86 per share, in the year-ago quarter.
Revenue rose 14 per cent to USD 213.4 billion in the fourth quarter, compared with USD 187.8 billion in the year-ago period.
Analysts were expecting USD 1.97 per share on sales of USD 211.4 billion, according to analysts polled by FactSet.
Revenue from its cloud service arm called Amazon Web Services increased 24 per cent to USD 35.6 billion. Analysts were expecting USD 34.9 billion.
Amazon said it plans to increase capital spending to USD 200 billion this year from USD 125 billion as it sees opportunities in artificial intelligence, robots, semiconductors an​Amazon reported fourth-quarter earnings slightly below Wall Street estimates even as sales surged and it reported the fastest growth in its prominent cloud computing business in 13 quarters.
The Seattle-based online behemoth on Thursday reported net income of USD 21.2 billion, or USD 1.95 per share, for the three-month period ended December 31. That compares with USD 20 billion, or USD 1.86 per share, in the year-ago quarter.
Revenue rose 14 per cent to USD 213.4 billion in the fourth quarter, compared with USD 187.8 billion in the year-ago period.
Analysts were expecting USD 1.97 per share on sales of USD 211.4 billion, according to analysts polled by FactSet.
Revenue from its cloud service arm called Amazon Web Services increased 24 per cent to USD 35.6 billion. Analysts were expecting USD 34.9 billion.
Amazon said it plans to increase capital spending to USD 200 billion this year from USD 125 billion as it sees opportunities in artificial intelligence, robots, semiconductors an ​Latest News [ SOBAN NEWS: International and National ]
