The holiday did not bring so much joy to the giant online retail firm.
Amazon stocks ended in the negative territory on Thursday session as the free-spending company reported a better-than-expected fourth quarter earnings but its revenue for the same period fell short of Wall Street estimates.
Shares of the online retail giant tumbled sharply by as much as 4% to $803.45 as the company’s revenue for the holiday season, came in at $43.7 billion, from a jump of 22% from a year prior, but $1 billion short of Wall Street’s $44.7 billion forecast for three months ending in December.
Despite missing expectations, the Seattle, Washington-based firm claimed that its December sales were the best holiday sales recorded ever, with sales from the North America building up 22% at $26.24 billion compare to a year ago while its international sales ballooned by 18% at $13.97 billion.
The giant e-commerce posted a strong 2016 record as its annual net income soared to a whopping $749 million, or $1.54 earnings per share, a huge pull away from the previous year tally of just $468 million or $1 eps.
The firm’s cloud service division, the Amazon Web Services, drew a big performance in the last quarter as it logged a revenue of $3.54 billion from a 47% advancement, as millions of active users continue to increase.
Meanwhile, with the company’s maximum effort to meet the growing demands of shoppers, Amazon spent $42.49 billion from $34.64 billion last year as the firm invested heavily in online infrastructure and other projects.