Amazon surpassed Wall Street expectations in its fourth quarter of 2024 revenue on Thursday, but forecasts a weaker quarter.

The retail giant ended the year with revenue of $187.79 billion, or $1.86 a share, beating analysts' estimate of $187.3 billion, with a share price of $1.49.

Strong revenues consider a strong holiday shopping season, which showed online spending in November and December increased by 8.7% year-on-year, according to Adobe Analytics. Overall, consumers spent $241.1 billion in the past two months, according to Adobe.

Amazon CEO Andy Jassy said in a statement: “For Amazon, the holiday shopping season is by far the most successful season, and we thank our customers for their support, their sales partners and their help in doing so. employees.”

Although the results achieved better than expected, Amazon's estimates for sales in the next quarter were lower than analysts' estimates. The company said it expects sales between $15.1 billion and $155.5 billion, while analysts estimate it to $158.5 billion. The stock price trades after get off work and then returns to the same price as the previous market closing price.

Over the past few years, Wall Street seems to have appreciated Amazon's cost-cutting measures. Jassy has been working to tighten his belt by performing layoffs and layoffs in multiple departments. While there are fewer layoffs in 2024 than in the past, layoffs still seem to have achieved positive financial gains on Amazon’s bottom line.

In Thursday's earnings, Jassy praised the company's various new innovations centered on artificial intelligence, including the new AI chip Trainium2. "The benefits are usually achieved by customers (and businesses) within a few months, but in this emerging technology environment, these benefits are substantial drivers," Jassie said.

Amazon executive chairman Jeff Bezos has also become more friendly with Donald Trump after years of fierce attacks. Amazon donated $1 million to the president's inauguration fund, and Bezos sat in the front row when Trump was sworn in.

After that, Jassy followed Trump's efforts to cut Amazon, and Bezos ended his support for his climate change and biodiversity fund.