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Amazon Q4 Earnings Clear The Bar In Strong Holiday Showing, But Stock Sags Due To Outlook For Q1
Amazon delivered a strong set of financial results in the fourth quarter, but saw its shares dip on lower-than-expected guidance for the first quarter.
“The holiday shopping season was the most successful yet for Amazon and we appreciate the support of our customers, selling partners, and employees who helped make it so,” CEO Andy Jassy said in the earnings release. Along with the usual retail bonanza, the holiday quarter has become a bigger advertising opportunity for Prime Video due to the streaming outlet’s long-term deal with the NFL. Amazon Studios also contributed to the holiday performance, with its Christmas-themed original movie Red One, starring Dwayne Johnson, getting a major companywide push.
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