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Amazon Shares Volatile After Q4 Results Miss Expectations

DAVID LIEBERMAN, Executive Editor
January 29, 2013
Amazon Shares Volatile After Q4 Results Miss Expectations
Amazon Shares Volatile After Q4 Results Miss Expectations

The stock fell at least 4% in after hours trading moments after the e-retail giant announced its results — but have rebounded to +6.7%. The company generated net income of $97M in the quarter, down 45% vs the same period last year, on revenues of $21.27B, +22%. Analysts expected revenues to come in higher, at $22.26B. Earnings of 21 cents a share also were short of forecasts for 29 cents. Amazon pointed to strong sales for its Kindle e-readers and tablets. The Kindle Fire HD, Kindle Fire, Kindle Paperwhile, and Kindle were the top-selling products worldwide since they were launched. “We’re now seeing the transition we’ve been expecting,” CEO Jeff Bezos says. “After 5 years eBooks is a multi-billion dollar category for us and growing fast — up approximately 70% last year. In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5%.” Media generated $6.51B in sales, +8.4%, while electronics and general merchandise sales came in at $13.93B, +27.7%.

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