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Amazon Beats Wall Street Q4 Estimates as Ad Sales Climb 27%
Amazon reported its fourth-quarter 2023 earnings Thursday, revealing results for its October Prime Day event and the holiday shopping season.
“While we made meaningful revenue, operating income, and free cash flow progress, what we’re most pleased with is the continued invention and customer experience improvements across our businesses. The Q4 financial results come on the heels of the tech giant laying off hundreds of employees across Amazon MGM Studios, Prime Video, Twitch and Audible. Though not relevant for the currently reporting fourth quarter, it should be noted Amazon began showing ads on Prime Video content by default in major markets Monday, unless users opt to pay extra ($2.99/month in the U.S.) to have an ad-free experience.
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