Fundamental, Research

Amazon Q4 2023 Earnings Preview: Strong Sales and More Efficiencies

Arun Sundaram, CFA, CPA, VP of Equity Research
24 January 2024

Summary (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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