Amazon, one of the world’s most valuable companies, operates in several technology-related fields. Although we mostly know the company for its e-commerce business, it also has a presence in cloud computing, artificial intelligence, and the film industry. In other words, it’s a company that provides services across a wide range of sectors.
Following Intel and Google, Amazon recently announced how much it earned in the fourth quarter of 2023, surpassing analysts’ expectations. Here are all the details…
Amazon 2023 – 4th quarter revenue
According to the financial report shared by Amazon, the company generated $170 billion in revenue in the fourth quarter of 2024. Analysts had estimated $166.21 billion. It can be said that the company has exceeded expectations.
Revenue generated: $170 billion
Revenue estimate: $166.21 billion
According to the information provided, Amazon’s cloud computing department, Amazon Web Services (AWS), generated $24.2 billion in revenue. The company’s CEO, Andy Jassy, emphasized that they have integrated generative artificial intelligence into AWS services and predicted that this integration would bring in billions of dollars in revenue in the coming years. On the other hand, the company’s advertising revenue was reported as $14.65 billion, with Prime Video having a significant impact.
Amazon is not alone in the cloud computing sector. The company is in fierce competition with Microsoft. However, Microsoft stands out with a higher profit margin. In this context, it is curious to see what steps Amazon will take in the future.
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