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Amazon 4Q earnings grow but miss expectations
Amazon posts higher 4th-quarter earnings, revenue but falls short of expectations
Associated Press
2014-01-31 06:01 AM

SEATTLE (AP) -- 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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