Amazon 4Q earnings grow but miss expectations

Amazon 4Q earnings grow but miss expectations

Credit: AFP/Getty Images

A picture shows an Ipad with an "Amazon" logo on November 13, 2012 in Paris. French tax authorities have demanded $252 million in back taxes and interest from online retailer Amazon, according to a company document on November 13, 2012.AFP PHOTO / LIONEL BONAVENTURE (Photo credit should read LIONEL BONAVENTURE/AFP/Getty Images)

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by Associated Press

KING5.com

Posted on January 30, 2014 at 3:03 PM

Updated Thursday, Jan 30 at 3:03 PM

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 says that its revenue grew 20 percent in the fourth quarter, to $25.59 billion from $21.27 billion.

FactSet says 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.

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