Five things to know about Amazon’s fourth-quarter earnings:
- Fourth-quarter sales missed the $137.6 billion in revenue projected by analysts and instead sat at $137.4 billion. The 9.4 percent growth rate as compared to last year marks the first single-digit growth percentage for the company since 2017.
- Revenue from Amazon’s online retail offerings dropped by 1 percent, and the company reported worldwide operating losses of $1.63 billion. Experts blame inflation pressures on consumers, the omicron surge and supply chain disruptions for the loss in their retail space.
- Amazon Web Services showed a hike in revenue of almost 40 percent compared to 2021, beating analyst expectations by over $400 million to hit $17.8 billion.
- Its separate advertising service also overperformed, with advertising revenue hitting $9.7 billion, jumping 32 percent. Amazon’s advertising revenue growth rate is almost the same as Google’s for this quarter.
- Amazon stock increased as much as 15 percent Feb. 4.
