SAN FRANCISCO – Amazon missed Wall Street expectations, sending shares in the high-flying stock diving.
The Seattle retailer reported $1 earnings per share on sales of $35.7 billion.
The consensus earnings estimate had been $1.58 per share on revenue of $35.98 billion, according S&P Capital IQ consensus estimates.
Amazon stock (AMZN) was down 11.3% on the news in after hours trading Thursday.
Amazon’s own guidance for the fourth quarter was that would make revenue of between $33.5 and $36.7 billion.
Revenue increased 22% for the holiday quarter.
The Seattle online retailer’s income was $482 million, up from $214 in the same quarter a year ago.
Source: USToday/Elizabeth Weise