2/3, 10:06 PM (Source: TeleTrader)
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Amazon's EPS doubles to $27.75 in Q4 Inc. posted on Thursday its financial results for the fourth quarter of 2021, revealing that its diluted earnings per share nearly double on an annual basis to reach $27.75 with a net income of $14.93 billion. In the same period, the tech giant's net sales rose 9% to $137.4 billion, while on the other hand, operating income halved to $3.46 billion.

"As expected over the holidays, we saw higher costs driven by labor supply shortages and inflationary pressures, and these issues persisted into the first quarter due to Omicron. Despite these short-term challenges, we continue to feel optimistic and excited about the business as we emerge from the pandemic," CEO Andy Jassy noted in the report.

Commenting on the outlook for the upcoming quarter, Amazon said that it expects net sales to yearly grow slightly up to $117 billion, with operating income dropping to somewhere between $3 billion and $6 billion. AMazon also increased the annual price of its Prime membership from $119 to $139.

Baha Breaking News (BBN) / ND