Amazon.com Inc. beat Wall Street estimates for quarterly sales Thursday, as the retailer's marketing blitz during the holiday period helped attract shoppers.
Amazon tapped into its huge base of Prime subscribers during the crucial holiday season with attractive early offers and discounts that helped drive business on its e-commerce platform, despite economic turbulence.
The world's biggest online retailer said it was expecting net sales of between $121 billion and $126 billion for the first quarter. Analysts were expecting $125.11 billion, according to IBES data from Refinitiv.
Net sales were $149.20 billion in the fourth quarter, compared with analysts' expectations of $145.42 billion, according to IBES data from Refinitiv.
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