Amazon misses on revenue
At first glance, Amazon had a great holiday quarter. They earned 47 cents a share versus a consensus estimate of 21 cents. Finally, an internet stock killed estimates, right? I guess not, The stock is now down over $5 in the aftermarket. Apparently, the sales estimate was $3.08 billion and their actual sales number was $2.98 billion. This is a decelerating the revenue that can be disastrous for any internet stock because anyone associated with selling products online, is expected to have at least a reasonable growth rate. Could this major sell off be an overreaction due to the poor market conditions today? They are, after all, making more money than was expected. Where is this stock going?
posted by Stock Administrator @ 9:41 PM
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