Amazon Beats 4Q Profit Forecasts

SEATTLE (AP) -
(AP Photo/Reed Saxon, File)

Amazon.com Inc. on Thursday reported fourth-quarter earnings of $749 million.

The Seattle-based company said it had net income of $1.54 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.40 per share.

The online retailer posted revenue of $43.74 billion in the period, missing Street forecasts. Eleven analysts surveyed by Zacks expected $44.87 billion.

For the current quarter ending in April, Amazon said it expects revenue in the range of $33.25 billion to $33.75 billion. Analysts surveyed by Zacks had expected revenue of $35.83 billion.

Amazon shares have risen 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 2 percent. In trading on Thursday, shares closed at $840.18, a climb of more than 50 percent in the last 12 months.

In aftermarket trading, shares were down $37.96, or 4.5 percent, to $801.99.