Amazon's revenue jumps 14% at the end of 'robust' 2023

Amazon's logo hangs in the entrance area at the online retailer's research and development site during a press event. Sebastian Kahnert/dpa
Amazon's logo hangs in the entrance area at the online retailer's research and development site during a press event. Sebastian Kahnert/dpa

Amazon significantly increased sales and profits in the Christmas quarter thanks to its retail business and cloud division.

Revenues grew by 14% year-on-year to $170 billion, the e-commerce giant reported after US markets closed on Thursday.

The company's earnings came in at $10.62 billion, or $1 per share. This compares with $278 million, or $0.03 per share, in last year's fourth quarter.

Turnover in the cloud division AWS rose in the fourth quarter by 13% to $24.2 billion, marking a slight uptick from the 12% notched in the previous quarter.

Looking ahead, Amazon said first quarter sales are expected to be between $138 billion and $143.5 billion, or to grow between 8% and 13% compared with first quarter 2023.

Amazon shares rose by 5% at times in after-hours trading.

"This Q4 was a record-breaking holiday shopping season and closed out a robust 2023 for Amazon," said CEO Andy Jassy in a statement.