Amazon Grows Revenue 22%, Still Disappoints Investors
Amazon today announced financial results for its fourth quarter ended December 31.
Operating cash flow increased 38% to $16.4 billion for the trailing 12 months, compared with $11.9 billion for the trailing 12 months ended December 31, 2015.
Net sales increased 22% to $43.7 billion in the fourth quarter, compared with $35.7 billion in fourth quarter 2015. Net sales increased 27% to $136 billion for 2016, compared with $107 billion in 2015.
Net income was $749 million in the fourth quarter, compared with net income of $482 million in fourth quarter 2015. Net income was $2.4 billion for 2016, compared with net income of $596 million.
Alexa-enabled devices were the top-selling products across all categories on Amazon during the holiday season. Customers purchased and gifted a record-setting number of devices from the Amazon Echo family with sales up nine times compared to last holiday season, according to the company.
Amazon also announced that it will create 100,000 new, full-time jobs in the US over the next 18 months.
Shares in AMZN declined 4% in afterhours trading.
