Amazon posts sharp drop in Q4 profit, stock drops 5% on Nasdaq

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Amazon recorded net income of US$ 300 million in the fourth quarter of 2022, a sharp drop compared to the gain of US$ 14.3 billion obtained in the same period of 2021. In adjusted terms, the number is equivalent to a profit of US$ 0.03 per share, short of the FactSet analyst forecast of $0.17.

At 6:38 pm (Brasília time), the company’s shares had fallen by 5.18% in the after hours of Nasdaq, in New York.

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Net sales, however, recorded growth of 9%, to US$ 149.2 billion in the quarter ended in December, surpassing guidance offered by the company in the past. The result also came above the forecast of analysts consulted by FactSet, of US$ 145.7 billion.

In the annual total, Amazon had a net loss of $2.7 billion in 2022, or $0.27 per share in 2022. During the prior period, in 2021, the company made a net profit of $33.4 billion, or $3.24.

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Source: CNN Brasil

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