Amazon posts $149.2 bn in net sales, faces short-term uncertainty

Amazon on Friday reported that its net sales increased 9 per cent to $149.2 billion in the fourth quarter that ended December 31, compared with $137.4 billion in fourth quarter 2021.

The Jeff Bezos-founded e-commerce giant said that excluding the $5 billion unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 12 per cent compared with fourth quarter 2021.

Net income decreased to $0.3 billion in the fourth quarter, compared with $14.3 billion.

Amazon Web Services (AWS) sales increased 20 per cent year-over-year to $21.4 billion.

Amazon now expects to post first-quarter revenue of between $121 billion and $126 billion, representing year-over-year growth of 4-8 per cent.