Arab Today, arab today amazon shares drop after poor q4 earnings
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Amazon shares drop after poor Q4 earnings

Arab Today, arab today

Arab Today, arab today Amazon shares drop after poor Q4 earnings

New York - AFP

Amazon\'s fourth quarter earnings plunged after a strong surge in costs, the company reported Tuesday, sending its after-market stock price sinking. Net income in the quarter to December 31 sank to $177 million, compared to $416 million a year before, and earnings per share dropped to 38 cents from 91 cents, short of analyst forecasts. Net sales grew 34.6 percent in the quarter to $17.4 billion, but a 37.6 percent rise in costs ate away at the internet sales giant\'s margins. Despite a hugely successful holiday season for its Kindle e-reader and tablet devices, with sales up 177 percent from a year earlier, Amazon was challenged by price cutting from rivals on the web and those with storefronts, and many with both. \"We are grateful to the millions of customers who purchased the Kindle Fire and Kindle e-reader devices this holiday season, making Kindle our bestselling product across both the US and Europe,\" said Amazon chief executive Jeff Bezos in a statement. \"Our millions of third-party sellers had a tremendous holiday season with 65 percent unit growth and now represent 36 percent of total units sold,\" he added. The company said to expect more of the same for the first quarter -- strong sales growth but narrowing profit margins. It forecast at best a 69 percent fall in operating income for the current quarter, and allowed for a possible net loss. Investors sold off Amazon shares in trade after the markets closed: at 2330 GMT Amazon\'s shares were down 8.6 percent to $177.67.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today amazon shares drop after poor q4 earnings Arab Today, arab today amazon shares drop after poor q4 earnings

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today amazon shares drop after poor q4 earnings Arab Today, arab today amazon shares drop after poor q4 earnings

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday