Amazon reported disappointing sales in the fourth quarter of 2016 and said that its revenue in the current period may be less than expected.
Although the net sales of Amazon were up to 43 thousand 741 million dollars from 35 billion us $ 750 million in the same period of the previous year, analysts had expected earnings of 44 thousand 680 million, according to Thomson Reuters.
The increase of 22.4 percent in fourth-quarter sales was derived from the income of the year-end holidays and an increase in subscriptions to its service to Prime.
net profit rose to 749 million dollars, or 1.54 per diluted share, from 482 million dollars, or 1 dollar per title, for the fourth quarter of the previous year. A survey of analysts polled by Bloomberg expected a profit of 1.36 usd per share.
Amazon expected sales in the quarter that runs will be between 33 thousand 300 million dollars, and 35 thousand 800 million dollars. A survey of analysts polled by Bloomberg expected projected 36 thousand million dollars.
The company raised concerns that the increase in expenditure on stores, movies, and gadgets not yet being translated into a growth fast enough.
After releasing the report, shares of Amazon fall 4.28 percent in New York trading at 16:04 local time after the close of the regular market.
With information from Bloomberg and Reuters
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