Amazon (NASDAQ:AMZN) reported an EPS of 3 cents and revenues of $149.2 billion during Q4, beating analysts’ estimates of $$145.2 billion.
Despite better-than-expected revenues, the company expects a modest performance in Q1 2023, with Q1 revenue expected to come in at $121 billion – $126 billion, slightly lower than expectations. The company’s advertising business performed better than expected, bringing in revenues of $11.56 billion.
Amazon’s light earnings came in the midst of difficult economic conditions, where businesses and consumers alike are growing more cautious in spending and cutting costs whenever possible.
The company’s shares declined by around 4% after-hours.