Consumer Discretionary

Amazon.com (AMZN) shares probably are poised for gains through 2024 as headwinds dissipate, UBS Securities said Friday in a report. Same-day and one-day Prime Delivery, e-commerce segment margin expansion and improving unit economics support the thesis for continued outperformance, UBS said. Also, Amazon’s “cost to serve” decreased for 2023 for the first time since 2018, despite the company raising service levels, UBS said. “Overhangs” such e-commerce deceleration in 2021, margin compression in 2022 and AWS deceleration in 2023 will mostly fade this year, UBS said. The firm maintained its buy rating on the company’s stock and raised its 12-month price target to $198 from $180. Amazon shares rose 7.9% in recent Friday trading.

Amazon.com Announces Fourth Quarter Results SEATTLE–(BUSINESS WIRE)–February 01, 2024– Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2023. Fourth Quarter 2023 — Net sales increased 14% to $170.0 billion in the fourth quarter, compared with $149.2 billion in fourth quarter 2022. Excluding the $1.3 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 13% compared with fourth quarter 2022. — North America segment sales increased 13% year-over-year to $105.5 billion. — International segment sales increased 17% year-over-year to $40.2 billion, or increased 13% excluding changes in foreign exchange rates. — AWS segment sales increased 13% year-over-year to $24.2 billion. — Operating income increased to $13.2 billion in the fourth quarter, compared with $2.7 billion in fourth quarter 2022. — North America segment operating income was $6.5 billion, compared with an operating loss of $0.2 billion in

Amazon.com Inc (NASDAQ:AMZN) reported fourth-quarter financial results after the market close on Thursday. Here’s a look at the key metrics from the quarter. Q4 Earnings: Amazon’s fourth-quarter revenue increased 14% year-over-year to $170 billion, which beat the consensus estimate of $166.21 billion, according to Benzinga Pro. The company reported quarterly earnings of $1 per share, which beat analyst estimates of 80 cents per share. With these results, Amazon now tops analyst estimates on both the top and bottom line in five straight quarters, dating back to the fourth quarter of 2022, according to Benzinga Pro. AWS sales totaled $24.2 billion in the fourth quarter, up 13% year-over-year. North American sales increased 13% year-over-year to $105.5 billion and international sales jumped 17% year-over-year to $40.2 billion. Operating cash flow increased 82% to $84.9 billion for the trailing 12 months compared to $46.8 billion in the 12 months ended December 2022. Free cash flow

Amazon.com (AMZN) reported Q4 diluted earnings Thursday of $1.00 per share, up from $0.03 a year earlier. Analysts polled by Capital IQ expected $0.80. Net sales for the quarter ended Dec. 31 were $169.96 billion, up from $149.20 billion a year earlier. Analysts surveyed by Capital IQ expected $166.26 billion. The company said it expects Q1 net sales to range between $138 billion and $143.5 billion. Analysts surveyed by Capital IQ are expecting $142.17 billion. Amazon.com shares rose more than 6% in recent Friday morning pre-bell trading.

Amazon.com, Inc. (AMZN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/02/2024 18.08% Telsey Advisory Group $185 → $200 Maintains Outperform 01/24/2024 9.22% Telsey Advisory Group $165 → $185 Maintains Outperform 01/22/2024 3.32% Benchmark $170 → $175 Maintains Buy 01/19/2024 23.98% Wedbush → $210 Reiterates Outperform → Outperform 01/09/2024 3.32% Stifel $173 → $175 Maintains Buy 01/09/2024 18.08% BMO Capital → $200 Initiates Coverage On → Outperform 12/21/2023 23.98% Wedbush $180 → $210 Maintains Outperform 12/01/2023 18.08% Oppenheimer $170 → $200 Maintains Outperform 12/01/2023 6.27% Wedbush → $180 Reiterates Outperform → Outperform 11/29/2023 3.91% Truist Securities → $176 Reiterates Buy → Buy 11/29/2023 3.32% JMP Securities → $175 Reiterates Market Outperform → Market Outperform 11/10/2023 23.98% Tigress Financial $204 → $210 Maintains Buy 11/02/2023 -5.54% HSBC → $160 Initiates Coverage On → Buy 10/27/2023 -7.31% DA Davidson $150 → $157 Maintains Buy

The following is a summary of the Amazon.com, Inc. (AMZN) Q4 2023 Earnings Call Transcript: Financial Performance: Amazon reported a Q4 revenue of $170 billion, representing a 13% YOY increase, with a particularly substantial rise in operating income by 383% YOY to $13.2 billion. Their overall balance stood at $155.7 billion, an increase of over $45 billion YOY and $20 billion QOQ. There was a significant boost in trailing 12-month free cash flow adjusted for equipment finance leases, going up $48.3 billion YOY to $35.5 billion. The firm recorded a 26% YOY increase in advertising growth. AWS revenue grew by 13% YOY, close to a $100 billion annualized revenue run rate. Full-year CapEx for 2023 witnessed a decline by $10.2 billion YOY to $48.4 billion. Business Progress: Amazon made substantial advancements in improving customer experience across its businesses. AWS secured important contracts with clients such as Salesforce, BMW, and Amgen.