Expert comments on its quarterly earnings print.
Amazon shares are currently up about 20% for the year.
Amazon.com Inc just reported its least profitable fourth quarter since 2014. Shares are trading down in extended hours.
The stock is taking a hit also on weak guidance. In its current financial quarter, Amazon expects to bring in $121 billion to $126 billion of revenue on $4.0 billion in operating profit at the top end of the range.
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In comparison, experts had called for $125.09 billion and $4.04 billion, respectively.
Even more disappointing was the slowdown in cloud computing. Amazon Web Services this quarter generated $21.38 billion in revenue on $5.21 billion of operating income – both well below the estimates.
Year-over-year, the business grew 20% in the holiday quarter versus 27.5% in Q3.
According to Amazon, it ended the year with a net loss of $2.7 billion, much of which was related to an enormous hit to its stake in Rivian Automotive Inc.
Earned $278 million versus a much higher $14.3 billion a year ago
Per-share earnings also narrowed sharply from $1.39 to 3 cents only
Revenue increased 9.0% on a year-over-year basis to $149.2 billion
FactSet consensus was 17 cents of EPS on $145.71 billion revenue
Ad revenue of $11.56 billion (up 23%) was also better than expected
This is a developing story. Please check back for updates
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