The Seattle-based e-commerce and technology company said its revenue for the October-December period totaled $187.8 billion, a 10% jump compared to the same period in 2023. Profits came out to $20 billion while earnings per share reached $1.86, higher than the $1.49 that analysts surveyed by FactSet had anticipated.

Amazon delivered a strong set of financial results in the fourth quarter, but saw its shares dip on lower-than-expected guidance for the first quarter.

The company plans to allocate a record amount to capital expenditures to build artificial-intelligence infrastructure.

By Greg Bensinger, Deborah Mary Sophia (Reuters) -Amazon.com investors drove shares down sharply on Thursday due to weakness in the retailer's cloud computing unit and lower-than-expected forecasts for first-quarter revenue and profit.