Amazon is reporting strong fourth-quarter sales and profits even as the online behemoth continues to contend with surging costs tied to a snarled supply...
Amazon has reported quarterly revenue of $100 billion or more for five straight quarters.Amazon is reporting strong fourth-quarter sales and profits even as the online behemoth continues to contend with surging costs tied to a snarled supply chain and labor shortages.
Amazon attributed the Prime increase to rising wages and transportation costs. The increase goes into effect Feb. 18 for new members. For existing members, it takes effect after March 25 on the customer’s next renewal. The company reported a profit of $14.32 billion, or $27.75 per share, for the three-month period that ended Dec. 31. That compared with a profit of $7.22 billion, or $14.09 per share, during the year-ago period. Revenue rose 9% to $137.41 billion, the company’s fifth consecutive quarter of revenue topping $100 billion.
The company said that sales are expected to be between $112 billion and $117 billion for the current fiscal quarter. Analysts were expecting $120.93 billion, according to FactSet estimates.
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