400tmax/iStock Unreleased via Getty Images Amazon.com Inc. (NASDAQ:AMZN) stock wavered in Thursday’s extended trading as the market digested a mixed Q4 earnings report. Headlining the quarterly results was a big revenue beat, with $149.2B in revenue exceeding analyst estimates by $3.43B. However, AWS sales came in slightly slower than already tempered estimates, hitting $21.38B against a $21.76B expectation. That slight disappointment was offset by continued rapid growth in advertising revenue and strong North American net sales. Diluted earnings per share at $0.03 also missed expectations by a wide margin. That said, net income for the quarter includes a pre-tax valuation loss of $2.3B related to the company’s investment in Rivian Automotive (RIVN). “In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon,” CEO Andy Jassy said. “The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years.” The company anticipates net sales between $121B and $126B for the first quarter of 2023 against a $125.13B Street consensus. Operating income is expected to be between $0 and $4B as compared to $3.7B in the first quarter of 2022. Management added that no restructuring is factored into the guidance. Shares of the Seattle-based tech giant initially pushed over 3% higher after the results were revealed before retreating as after hours trading progressed. As of 4:20 PM ET, shares dove 6.4%. Dig into the details of the print.
