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Fundamental, Research

Amazon Q4 2023 Earnings Preview: Strong Sales and More Efficiencies

Arun Sundaram, CFA, CPA, VP of Equity Research

24 January 2024

Summary

Amazon.com (AMZN) will announce Q4 2023 results on Feb 1, 2024. We predict 13% YoY revenue growth, inline operating income of $10.4B, and a slight beat to adj-EBITDA ($29.6B vs. $29.2B consensus). AMZN's retail business had a strong holiday season, driven by faster delivery, promos, and high demand for everyday essentials. Retailers traded margins for sales, with steeper discounts compared to last year.

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