The Seattle-based e-commerce and technology company said its revenue for the October-December period totaled $187.8 billion, a 10% jump compared to the same period in 2023. Profits came out to $20 billion while earnings per share reached $1.86, higher than the $1.49 that analysts surveyed by FactSet had anticipated.

Amazon delivered a strong set of financial results in the fourth quarter, but saw its shares dip on lower-than-expected guidance for the first quarter.

Amazon beat Wall Street’s expectations for the fourth quarter, driven by strong cloud growth, AI investments, and a robust holiday shopping season. However, the company issued a gloomy outlook for the first quarter,

The company plans to allocate a record amount to capital expenditures to build artificial-intelligence infrastructure.

Amazon investors drove shares down sharply on Thursday due to weakness in the retailer’s cloud computing unit and lower-than-expected forecasts for first-quarter revenue and profit. Amazon’s shares fell as much as 5% in extended trade after the fourth-quarter earnings report,

Amazon CEO Andy Jassy revealed to investors Thursday that the company plans to spend more than $100 billion in capital expenditures on AWS and AI development in 2025.

Amazon CEO Andy Jassy speaks during a keynote address at AWS re:Invent 2024, a conference hosted by Amazon Web Services, at The Venetian Las Vegas on December 3, 2024 in Las Vegas, Nevada. Amazon said it plans to boost capital expenditures to $100 billion in 2025,

The S&P 500 and the Nasdaq ended higher while the Dow closed lower after a choppy trading session on Thursday, as investors sifted through earnings reports and awaited Amazon's results after the bell and a key jobs report on Friday.

The US stock market was little changed on Thursday, with the S&P 500 and Nasdaq Composite holding modest gains while the Dow Jones Industrial Average slipped. Investors assessed a mixed set of corporate earnings and looked ahead to Friday’s key jobs report.