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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