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Amazon Jumps on Q4 Results Despite Missing Estimates; Guidance Also Weak

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Amazon (NASDAQ: AMZN) released its fiscal fourth-quarter earnings results after the closing bell on Tuesday. Ahead of the report, AMZN closed down more than 5.60 percent to $260.35. In the after hours, however, the stock was last trading up more than 9 percent to $285.

The bullish reaction in the name is leaving some traders scratching their heads. The company reported a sharp decline in profit, missing Wall Street analysts' consensus estimates. Revenue and guidance was also below expectations.

Amazon reported fourth-quarter net income of $97 million or $0.21 per share, compared to $177 million or $0.38 per share, in last year's fourth-quarter. This missed Wall Street consensus EPS estimates of $0.29.

Net sales in the quarter were up 22 percent to $21.27 billion versus $17.43 billion last year. This also missed consensus estimates of $22.26 billion.

Looking ahead to the first-quarter, Amazon said that it expects operating income between a loss of $285 billion and a profit of $65 million. Sales are expected to be between $15 billion and $16.6 billion. This is below current consensus revenue estimates of $16.86 billion for the first-quarter.

Posted-In: Earnings News Guidance After-Hours Center Movers Tech Best of Benzinga

 

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