This content was made for video and podcast format:
This evening Amazon (#AMZN) announced Q4 earnings and beat analyst expectations on all fronts. The company reported GAAP EPS of $14.09 (beat by $6.96) and revenue of $125.55B (beat by $5.82B).
Many investors expected a blowout earnings report, but the real shock was that CEO and founder, Jeff Bezos, announced that he will be stepping down as acting CEO in Q3 of this year. His replacement will be current Amazon Web Services head, Andy Jassy.
Bezos stated that, "If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition."
Should investors be worried that Bezos is stepping down, or did #Amazon report good enough earnings to warrant a stock buy?