Amazon Reports Strong Q4 Earnings, Beats Expectations, but Stocks Dip on Disappointing Guidance

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Amazon reported better-than-expected revenue and profits for the holiday shopping period, with $75.5 billion in revenue for its online shopping business, up 7% from the same period in 2023. However, its stocks dipped in after-hours trading due to disappointing guidance for the current quarter. Amazon's cloud-computing platform, AWS, is expected to be a chief driver of growth, with investors anticipating $20.7 billion in fourth-quarter operating income, 9% above consensus estimates. Mizuho has an "Outperform" rating on Amazon stock with a price target of $285, 20% higher than current levels.
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