我们将用一篇最新的美股业绩发布会，管窥旗舰高科技公司在艰难的2022年带给投资者的惊喜与失望，以及高管面向下一季度的雄心与谨慎。
Amazon stock moves lower on mixed earnings result (update)
亚马逊股价因喜忧参半的收益结果而走低（更新）
Updated to add commentary from the earnings presentation.
根据财报发布会更新的评论。
AMZN stock wavered in Thursday’s extended trading as the market digested a mixed Q4 earnings report.
AMZN 股价在周四的延长交易中摇摆不定，因为市场消化了喜忧参半的第四季度收益报告。
Headlining the quarterly results was a big revenue beat, with $149.2B in revenue exceeding analyst estimates by $3.43B. However, AWS sales came in slightly slower than already tempered estimates, hitting $21.38B against a $21.76B expectation. That slight disappointment was offset by continued rapid growth in advertising revenue and strong North American net sales.
季度业绩的头条是收入大增，1492亿美元的收入比分析师预期的多出34.3亿美元。然而，AWS的销售额略微低于预期，达到了213.8亿美元，而预期为217.6亿美元。广告收入的持续快速增长和强劲的北美净销售额抵消了这种轻微的失望。
Diluted earnings per share at $0.03 also missed expectations by a wide margin. That said, net income for the quarter includes a pre-tax valuation loss of $2.3B related to the company’s investment in Rivian Automotive.
稀释后的每股收益为0.03美元，也远远低于预期。也就是说，
本季度的净收入包括与该公司在Rivian Automotive的投资相关的23亿美元的税前估值损失 。 Founded in 2009, Rivian is focusing on upscale electric trucks and SUVs with an emphasis on outdoor adventure. Following the partnership with Amazon, the latter would purchase 100,000 custom-built electric delivery vans, part of its move to electrify its last-mile fleet by 2040.Rivian公司成立于2009年，专注于高档电动卡车和SUV，强调户外探险。在与亚马逊合作之后，后者将购买10万辆定制的电动送货车，这是其在2040年前实现最后一英里车队电气化的举措之一。
“In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon,” CEO Andy Jassy said. “The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years.”
"在短期内，我们面临不确定的经济，但我们对亚马逊的长期机会仍然相当乐观，"首席执行官安迪-贾西说。"全球零售业和IT业的总细分市场的绝大部分份额仍然停留在实体店和企业内部的数据中心；随着这一等式的稳步翻转，我们相信我们在这些领域领先的客户体验以及我们每天持续努力工作和发明改进的成果，将在未来几年带来重大增长。"
The company anticipates net sales between $121B and $126B for the first quarter of 2023 against a $125.13B Street consensus. Operating income is expected to be between $0 and $4B as compared to $3.7B in the first quarter of 2022. Management added that no restructuring is factored into the guidance.
该公司预计2023年第一季度的净销售额在1210亿至1260亿美元之间，而华尔街共识为1251.3亿美元。预计营业收入将在0-40亿美元之间，而2022年第一季度为37亿美元。管理层补充说，业绩指引中没有考虑重组因素。
Shares of the Seattle-based tech giant initially pushed over 3% higher after the results were revealed before diving over 6% as after hours trading progressed.
这家总部位于西雅图的科技巨头的股票在业绩披露后最初推高了3%以上，然后在盘后交易中跳水超过6%。
Shares again made a sharp move as CEO Andy Jassy joined the company's earnings call for the first time. Andrew R. Jassy (born January 13, 1968) is an American business executive who is the president and chief executive officer (CEO) of Amazon. Before being appointed by Jeff Bezos and the Amazon board during the fourth quarter of 2020, Jassy served as the SVP and later as the CEO of AWS from 2003 to 2021. Jassy is the son of Margery and Everett L. Jassy of Scarsdale, New York. Jewish with Hungarian ancestry, his father was a senior partner in the corporate law firm Dewey Ballantine in New York City, and chairman of the firm's management committee. Jassy grew up in Scarsdale, and attended Scarsdale High School, where he played varsity soccer and tennis. Jassy graduated cum laude from Harvard College in government, where he was advertising manager of The Harvard Crimson, before earning an MBA from Harvard Business School. In 1989, he wrote in The Crimson that the newspaper should continue to publish advertisements from Eastern Air Lines, despite an ongoing labor dispute there. 安德鲁-R-贾西（生于1968年1月13日）是一名美国企业高管，是亚马逊的总裁兼首席执行官（CEO）。在2020年第四季度被杰夫-贝佐斯和亚马逊董事会任命之前，贾西在2003年至2021年期间担任AWS的高级副总裁，后来又担任首席执行官。 贾西是纽约斯卡斯代尔的玛格丽和埃弗雷特-L-贾西的儿子。具有匈牙利血统的犹太人，他的父亲是纽约市Dewey Ballantine公司的高级合伙人，也是该公司管理委员会的主席。贾西在斯卡斯代尔长大，在斯卡斯代尔高中上学，在那里他参加了足球和网球校队。 贾西以优异的成绩毕业于哈佛大学政府管理学院，在那里他是《哈佛深红报》的广告经理，之后在哈佛商学院获得了MBA学位。1989年，他在《深红报》上写道，尽管那里正在发生劳资纠纷，但报纸应该继续刊登东方航空公司的广告。
随着首席执行官安迪-贾西首次参加公司的财报电话会议，股价再次大幅波动。他强调精简业务的计划是他的首要任务，但他谨慎地指出，关键时刻的重大投资帮助亚马逊成为今天的公司。
Jassy also outlined his bullishness on strides the company is making in both grocery and international e-commerce. In particular, geographies like India and Turkey are beginning to show strong growth, in his view.
贾西还概述了他对该公司在食品杂货和国际电子商务方面取得的进展的看好。他认为，特别是像印度和土耳其这样的地理区域正开始显示出强劲的增长。
Further, he addressed questions regarding AWS and its apparent slowing.
此外，他还谈到了有关AWS和其明显放缓的问题。
"Most enterprises right now are acting cautiously...we're being very thoughtful about streamlining our costs as well," Jassy told analysts. "We're going to find a way to help our customers spend less money...If it's good for our customers to find a way to be more cost effective in an uncertain economy our team is going to spend a lot of cycles doing that."
"现在大多数企业的行动都很谨慎......我们在精简成本方面也很有想法，"Jassy告诉分析家们。"我们将找到一种方法来帮助我们的客户花更少的钱......如果在不确定的经济中找到一种更具成本效益的方法对我们的客户有好处，我们的团队将花大量的周期来做这件事。"
He indicated that this strategy serves the long-term interest of the company even if it stands to hamper quarterly results from time to time. Instead, the business is focusing on building longer-term relationships and highlighting the elasticity of AWS versus on-premise services.
他表示，这一战略符合公司的长期利益，即使它不时地会阻碍季度业绩。相反，该企业正专注于建立更长期的关系，并强调AWS相对于企业内部服务的弹性。 Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's most customer-centric company, Earth's best employer, and Earth's safest place to work. 亚马逊以四项原则为指导：对客户的专注而不是对竞争对手的关注，对发明的热情，对卓越运营的承诺，以及长期思考。亚马逊努力成为地球上最以客户为中心的公司，地球上最好的雇主，以及地球上最安全的工作场所。
Finally, Jassy addressed the company's shift toward cost-cutting in specific business areas, such as stores and devices.
最后，Jassy谈到了该公司在特定业务领域向削减成本的转变，如商店和设备。
"When we looked at some of our physical store investments, there were just some areas where didn't have conviction that they were going to be big needle movers for Amazon," he explained.
"他解释说："当我们审视我们的一些实体店投资时，有一些领域并不相信它们会成为亚马逊的重要推动力。
He added that a decision to pull back on certain investments and streamline the business ended up with the decision to eliminate 18K roles, a decision he describes as the most difficult he has had to make.
他补充说，决定缩减某些投资并精简业务，最终决定裁撤1.8万个岗位，他说这是他不得不做出的最困难的决定。
He added that his team is not looking to optimize quarterly results, but instead build the business and maintain customers for the longer term. Still, he remained optimistic about space investments, healthcare, and entertainment and streaming among other areas.
他补充说，他的团队不是为了优化季度业绩，而是为了建立业务和长期维护客户。尽管如此，他仍然对太空投资、医疗保健以及娱乐和流媒体等领域持乐观态度。
"It only takes one or two of them to become the fourth pillar for Amazon for us to become a very different company over time," Jassy concluded.
"只需要其中一两个成为亚马逊的第四大支柱，我们就会随着时间的推移成为一个非常不同的公司，"Jassy总结道。
Shares declined 3.55% at the conclusion of the earnings call at 6:17 ET.
股价在美东时间6:17的业绩电话会议结束时下跌了3.55%。
节选自8-K Highlight亮点部分 https://d18rn0p25nwr6d.cloudfront.net/CIK-0001018724/140f55ec-e3ce-40ba-a12a-1925fa354cc8.pdf
What is SEC Form 8-K?
Form 8-K is known as a “current report” and it is the report that companies must file with the SEC to announce major events that shareholders should know about. Companies generally have four business days to file a Form 8-K for an event that triggers the filing requirement.
8-K表格是一种非常广泛的表格，用于将对股东或美国证券交易委员会重要的特定事件通知给美国上市公司的投资者。这是提交给美国证券交易委员会的最常见形式之一。
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