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Amazon Stock Up 10% Despite Missing Sales, Guidance Forecasts
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Amazon missed analysts’ expectations for revenue and guidance, but the stock still shot up by as much as 10% after hours.
Net sales totaled $21.3 billion for the December quarter, up 22% from the same quarter a year ago, but missing analysts’ forecasts by $1 billion. Net income was down 45% to $97 million. The company’s first quarter guidance was also lower than expected at $15.8 billion compared to Wall Street’s estimates of $16.84 billion.
Those figures were offset, in investors’ minds at least, by Amazon’s gross margins for the quarter, which were 24.1% — 2.2% higher than what Wall Street was expecting. Non-GAAP operating margin was also better than expected, at 3.2% vs. 2.2%.… Continue reading…
More About: amazon
source: http://feeds.mashable.com/~r/Mashable/~3/5HiUXonXits/
2013-01-29 16:02:24
Source: http://someit.com/2013/01/29/amazon-stock-up-10-despite-mis/
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