Amazon surges with strong sales and exceeds estimates, CEO Jassy’s cost-cutting reshapes the tech giant

In a stellar performance, Amazon.com Inc. announced robust sales and exceeded operating income estimates, showcasing CEO Andy Jassy's cost-cutting strategies. The Seattle-based giant reported a remarkable holiday season, marking its strongest online sales growth since the early pandemic days. Wall Street responded positively, propelling shares up by 8% in extended trading. With a focus on cost reduction, Amazon's Q4 revenue surged 14% to $170 billion, outpacing expenses. Analysts commend ongoing measures, affirming the company's resilience amid tech sector concerns. Operating income for the upcoming quarter is projected at $8 billion to $12 billion on sales up to $143.5 billion.

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By Spencer Soper and Matt Day

Amazon.com Inc. reported strong sales and gave an operating income outlook that surpassed estimates, suggesting that Chief Executive Officer Andy Jassy's unrelenting cost-cutting and focus on services that make money is reshaping the once free-spending company. 

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