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Amazon reports better-than-expected results as revenue jumps 14%

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Amazon reported strong fourth-quarter results, surpassing analysts’ expectations.

The company’s earnings per share and revenue exceeded forecasts, leading to an 8% stock increase in extended trading.

Amazon’s net income surged, indicating successful cost management efforts by CEO Andy Jassy.

The company is focusing on efficiency and new investments, with plans to continue investing in customer-centric areas.

Amazon CFO Brian Olsavsky said, “We’re going to continue to invest in new things and new areas and things that are resonating with customers.”

“Where we can find efficiencies and do more with less, we’re going to do that as well,” he continued.

Revenue for the quarter jumped 14%, driven by a record-breaking holiday shopping season and Prime Day event.

Amazon Web Services (AWS) sales grew 13%, and the advertising unit saw a 27% increase in sales.

The company is optimistic about the potential of generative AI services, aiming for substantial revenue growth in the coming years.

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