Shares of e-commerce giant Amazon (NASDAQ:AMZN) jumped in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $1, which beat analysts’ consensus estimate of $0.80 per share. Sales increased by 13.9% year-over-year, with revenue hitting $170 billion. This beat analysts’ expectations by $3.74 billion.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The various segments of the company witnessed notable growth over the past year. North America’s sales climbed to $105.5 billion, marking a 13% increase from the previous year. In the International segment, sales reached $40.2 billion, reflecting a year-over-year growth of 17%. Additionally, the AWS segment experienced a 13% increase in sales, which culminated to a total of $24.2 billion.
Looking forward, management now expects revenue and operating income for Q1 2024 to be in the ranges of $138 billion to $143.5 billion and $8 billion to $12 billion, respectively. For reference, analysts were expecting $142.17 billion in revenue.
Is Amazon a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 37 Buys assigned in the past three months, as indicated by the graphic below. After a 41% rally in its share price over the past year, the average AMZN price target of $187.40 per share implies 17.36% upside potential.
