Thursday January 28, 2016

Amazon Sales Soar, But Miss Wall Street Expectations

Amazon missed Wall Street projections this quarter, sending stocks down 12% in after-hours trading.

Amazon.com’s sales soared in the critical holiday quarter, but fell short of Wall Street expectations, as a stronger dollar ate into foreign sales, leading the stock to a tumble in after-hours trading. Revenue in the fourth quarter reached $35.7 billion, up 22 percent from the same quarter in 2014; compared with analyst estimates of $35.93 billion. Amazon said that taking out the $1.2 billion impact of foreign exchange gyrations, sales would have increased 26 percent.

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