Market Overview

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

Share:
Amazon Jumps on Q4 Results Despite Missing Estimates; Guidance Also Weak
Related AMZN
As Amazon Gears Up To Throw 'Nation's Largest Job Fair,' How Does The Company Rate As An Employer?
Regulators Eyeing Amazon's Whole Foods Acquisition
Stocks Flashing Renewed Technical Strength: Ebay (Investor's Business Daily)

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

 

Related Articles (AMZN)

View Comments and Join the Discussion!