Amazon's sales increase 14% in 4th quarter of 2023

By Ovunc Kutlu

ISTANBUL (AA) - US-based global e-commerce major Amazon saw its net sales increase 14% to $170 billion in the fourth quarter of 2023 from $149.2 billion in the same period of 2022.

Net income jumped to $10.6 billion from $0.3 billion during the same period, according to its financial results statement released Thursday.

For the full year of 2023, net sales rose 12% to $574.8 billion compared with $514.0 billion in 2022.

Net income was $30.4 billion in 2023 compared with a net loss of $2.7 billion in 2022.

"This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon," CEO Andy Jassy said in the statement.

The company said net sales are expected to be between $138 billion and $143.5 billion in the first quarter of this year, or to grow between 8% and 13% compared with the first quarter of 2023.

With strong results, Amazon's stock price soared 5.63% in after-hours trading on the Nasdaq.