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Amazon’s 4Q Sales +22%, Profit Disappoints

Analysts Reportedly Underwhelmed

Feb 2, 2016 3:29 AM   By Rapaport News
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RAPAPORT... Amazon reported sales surged 22 percent year on year to $35.7 billion in the fourth quarter that ended December 31. Excluding the unfavorable impact of exchange-rate fluctuation, sales surged 26 percent. Sales were within guidance of $33.5 billion to $36.75 billion issued ahead of the holiday quarter but profit reportedly fell short of many analysts’ expectations.

Net income for the quarter more than doubled to $482 million with diluted earnings per share of $1 compared to 45 cents a year earlier. Analysts estimated the retailer would earn $1.56 a share during the quarter, The New York Times reported.

In 2015, net sales jumped 20 percent to $107 billion, or 26 percent ex-currency, according to a statement January 28, while net income soared to $596 million from a loss of $241 million the previous year.

“Twenty years ago, I was driving the packages to the post office myself and hoping we might one day afford a forklift,” said Jeff Bezos, Amazon’s founder and chief executive officer. “This year, we pass $100 billion in annual sales and serve 300 million customers.”

Amazon claimed it was the top ecommerce site in India throughout the fourth quarter, including the busy Diwali shopping season, citing analytics firm comScore. Downloads of the Amazon.in mobile shopping app grew faster in the three-month period than any other ecommerce app in the country, the retailer said, citing app analytics firm App Annie.

Sales in the first quarter of 2016 are expected to be between $26.5 billion and $29.0 billion, representing growth of 17 percent to 28 percent, the statement said.
Tags: Amazon, India, Jeff Bazos, Rapaport News, U.S. retail
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