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Amazon 4Q earnings grow but miss expectations

Thu, 01/30/2014 - 5:07pm
The Associated Press

FILE - In this Monday, Dec. 2, 2013, file photo, an Amazon.com employee stocks products along one of the many miles of aisles at an Amazon.com Fulfillment Center in Phoenix. Amazon reports quarterly earnings on Thursday, Jan. 30, 2014. (AP Photo/Ross D. Franklin, File)

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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