Amazon had a better holiday quarter than expected but its worst annual loss in years
Amazon had better net sales during its holiday quarter than even its best projections, but the results still show a company struggling with economic slowdowns across its divisions.
Net sales were up 9 percent year over year, according to Amazon’s just-released Q4 2022 earnings, surpassing the company’s guidance it gave last quarter that growth would be up between 2 and 8 percent year over year. That said, it was its least profitable Q4 ever; the company earned $0.3 billion for quarter, a sharp drop from $14.3 billion a year before.
And for the full year, the company posted a net loss of $2.7 billion, its first since 2014 and reversing a trend of rising annual profits and booming growth during the pandemic. Substantially at fault for...