You may not realise while doing daily online shopping how much a giant marketplace like Amazon makes in a quarter. Well, today Amazon posted Q4 earnings. They reported $72.4 billion in revenue, which is way more than, from last year’s $60.45 billion.
Extremely wealthy individual Jeff Bezos says:
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.
Bezos became the world’s richest man which is based on the consistently increasing price of Amazon stock. Stats indicate that he rose $40 billion through the course of the year. Although his base salary is $81,840 a year which is quite modest for a person having a portfolio of $40 billion.
One of the best selling item on Amazon around the world was Echo Dot. This year customers have purchased millions of devices globally from Echo family compared to last year.
The CEO said:
The number of research scientists working on Alexa has more than doubled in the past year, and the results of the team’s hard work are clear.
The other spectrum of Amazon business is Amazon Web Services. Many of you might not know but Amazon is one of the worlds top cloud SAAS service provider.
Current operating income of Amazon Web Services is around $2.2 billion.
Analysts estimated this year Amazon will sell around $7.29 billion but beating that mark with $7.43 billion Amazon marked a healthy headstart from its last year sale of $5.11 billion.
All the numbers above look good but CNBC projected that 19.7 % revenue growth for the quarter is the lowest since 2015.
Amazon said that for there upcoming quarter their goal is between $56 billion and $60 billion, which is way below than what analyst expectations of $60.99 billion.