Amazon reported earnings that topped expectations. The tech company posted reported net sales of $125.5B and $14.09 EPS, compared to consensus estimates of $119.7B in net sales and $7.34 EPS.This comes as Jeff Bezos will reportedly transition to Executive Chair of Amazon, with AWS chief Andy Jassy replacing him.
JARED BLIKRE: Jeff Bezos is going to become Executive Chair, and Amazon's own Andy Jassy is going to become the next CEO. That is the big news right here. And just checking on the stock price, you can see it is up 2.3%. So the market taking this transition of power pretty well right now.
And by the way, the numbers are very good for the fourth quarter. Let's go over those now. We have net sales of $125.5 billion, that is up 44% year-over-year, handily beating the estimates of $119.7 billion. Amazon Web Services, those earnings-- excuse me, those revenues came in at $12.74 billion, and that is just slightly behind or roughly in line with the estimate of $12.77 billion. That is an increase of nearly 10% year over year.
And then the EPS came in at $14.09 per share. That is a jump from $6.47 one year ago and very much higher, actually almost double the estimate, which was $7.34. Operating income coming in very much over expectation, $6.87 billion, estimate was for $4.5 billion and fulfillment expenses, those were $18.5 billion, coming in roughly in line with the estimate there.
So big news, Jeff Bezos transitioning to Executive Chair, Andy Jassy becoming the next CEO, and just beating on a lot of-- oh, I do want to point out, we do have a first quarter forecast here I want to go through, they are seeing net sales of $100 billion to $106 billion. The estimate was for $95.7 billion. So another nice beat there on a key metric. Guys?