San Francisco, February 2: Net sales for Amazon increased 14 per cent to $170 billion in the holiday quarter that ended December 31, 2023, compared with $149.2 billion in the fourth quarter of 2022. Amazon CEO Andy Jassy said the past holiday season was "record-breaking."

Net income increased to $10.6 billion in the fourth quarter of 2023, compared with $0.3 billion in the fourth quarter of 2022. Amazon Web Services (AWS) segment sales increased 13 per cent year-over-year to $24.2 billion. "This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon,” said Jassy. “As we enter 2024, our teams are delivering at a rapid clip, and we have a lot in front of us to be excited about," he added. YouTube Crosses '100 Million' Music and Premium Subscribers Worldwide in January 2024.

Amazon also revealed a new AI chatbot called 'Rufus' which is supposed to help customers find more products to buy on its platform. For the full year 2023, net sales increased 12 per cent to $574.8 billion, compared with $514.0 billion in 2022.

AWS segment sales increased 13 per cent year-over-year to $90.8 billion for the entire year. Net income was $30.4 billion in 2023, or $2.90 per diluted share, compared with a net loss of $2.7 billion, or $0.27 per diluted share, in 2022, said Amazon. X New Feature Update: Elon Musk’s Platform To Let Users Sort Replies in Post By Trending, Recent and Liked.

"While we made meaningful revenue, operating income, and free coash flow progress, what we’re most pleased with is the continued invention and customer experience improvements across our businesses," said Jassy.

(The above story first appeared on LatestLY on Feb 02, 2024 12:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).