We all knew that Amazon had a great holiday season. The online retailer put out multiple press releases before and after Christmas patting itself on the back. Now that its Q4 results are, we can finally see that Amazon did indeed one have heck of a quarter.
Amazon announced this afternoon that fourth quarter sales were up 20 percent to $25.29 billion in the three months ending on December 31. It notes that sales would have actually been up 22 percent if it weren't for the $258 million it lost in foreign exchange rates.
In operating income, Amazon saw an increase of 26 percent to $510 million. Net income was also up to $239 million which is a significant increase compared to its net income of $97 million in Q4 2012.
“It’s a good time to be an Amazon customer. You can now read your Kindle gate-to-gate, get instant on-device tech support via our revolutionary Mayday button, and have packages delivered to your door even on Sundays,” said Jeff Bezos, founder and CEO of Amazon.com. “In just the last weeks, Forrester, YouGov, and ForeSee have all ranked Amazon #1 – and we believe we’re just scratching the surface of what world-class customer service can be.”
As for the full year, Amazon repots that net sales increased 22 percent to $74.45 billion. If it weren't for those pesky exchange rates taking $1.28 billion out of its coffers, Amazon's net sales for the year would have actually grown by 24 percent.
In full year operating income, Amazon saw an increase of 10 percent to $745 milllion. Full year net income was $274 million - another significant increase compared to last year's net loss of $39 million.
Despite its positive earnings results, it didn't quite meet expectations. Amazon's share price is down 37 points in after hours trading.
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