Amazon earnings grow but miss expectations

Associated Press

SEATTLE — Amazon’s profit and revenue both grew in the latest quarter, but its results are below what Wall Street was expecting and shares of the world’s biggest online retailer are down sharply.

Amazon.com Inc. said Thursday that it earned $239 million, or 51 cents per share, in the October-December period. That’s up from $97 million, or 21 cents per share, in the same period a year earlier.

Seattle-based Amazon said that its revenue grew 20 percent in the fourth quarter, to $25.59 billion from $21.27 billion.

FactSet said analysts were expecting earnings of 74 cents per share on revenue of $26.05 billion.

For the current quarter, Amazon is forecasting revenue of $18.2 billion and $19.9 billion. Analysts expect $19.67 billion.

Amazon’s stock is down 10 percent in extended trading.