360° Coverage : Amazon 4Q earnings grow but miss expectations

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Amazon 4Q earnings grow but miss expectations

Jan 30 2014, 6:52pm CST | by

Amazon posts higher 4th-quarter earnings, revenue but falls short of expectations, shares fall SEATTLE (AP) — Amazon's profit and revenue both grew in the latest quarter but its...

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30 weeks ago

Amazon 4Q earnings grow but miss expectations

Jan 30 2014, 6:52pm CST | by

Amazon posts higher 4th-quarter earnings, revenue but falls short of expectations, shares fall

SEATTLE (AP) — Amazon's profit and revenue both grew in the latest quarter but its results fell below what Wall Street was expecting and shares of the world's biggest online retailer declined after-hours.

Amazon has long focused on spending the money it makes to grow its business and expand into new areas, from movie streaming to e-readers and even grocery delivery.

Investors have largely forgiven thin profit margins and zeroed in on the company's solid revenue growth and long-term prospects. It's posted losses in two previous quarters due to rising operating costs but the stock hit an all-time high of $408.06 last week.

However, Thursday's disappointing results and modest revenue forecast for the current quarter sent shares tumbling up to 10 percent after the closing bell. In recent aftermarket trading, shares of the Seattle-based company were down $20.91, or 5.2 percent, to $382.10.

Amazon.com Inc. also said it is considering a $20 to $40 price hike on its popular Prime service, which currently costs $79 a year in the U.S. and offers free two-day shipping on most items. The company said it has not raised the price on Prime in the 9 years since its launch, even though shipping costs have increased and it has added new services, such as video streaming.

Amazon earned $239 million, or 51 cents per share, in the October-December period, which included the key holiday shopping period. That's up from $97 million, or 21 cents per share, in the same period a year earlier.

Revenue grew 20 percent in the fourth quarter, to $25.59 billion from $21.27 billion.

Analysts were expecting earnings of 74 cents per share on revenue of $26.05 billion, according to FactSet.

For the current quarter, Amazon is forecasting revenue of $18.2 billion and $19.9 billion. The midpoint of that range is below analysts' $19.67 billion estimate.

Source: AP Business

 
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14 hours ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH17" hits ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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