Amazon.com, Inc. (NASDAQ: AMZN) shares were volatile after reporting a fourth-quarter earnings and sales beat.
The e-commerce giant delivered earnings of $6.04, beating estimates by 45 cents. Sales came in at $72.4 billion, beating estimates by $580 million.
Amazon sees first-quarter operating income of $2.3 billion-$3.3 billion, but delivered weak first-quarter sales guidance of $56 billion-$60 billion versus the $60.96 billion estimate.
Said CEO Jeff Bezos, "Alexa was very busy during her holiday season. Echo Dot was the best-selling item across all products on Amazon globally, and customers purchased millions more devices from the Echo family compared to last year."
Amazon reported net sales increased 20% year-over-year. Operating income increased to $3.8 billion, up from $2.1 billion year-over-year.
Net Income increased to $3 billion, up from $1.9 billion year-over-year.
Net sales increased 31% to $232.9 billion, compared with $177.9 billion in 2017. Excluding the $1.3 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 30% compared with 2017.
Operating income increased to $12.4 billion, compared with operating income of $4.1 billion in 2017.
Net income increased to $10.1 billion, or $20.14 per diluted share, compared with net income of $3.0 billion, or $6.15 per diluted share, in 2017.
Away from the dollars-and-cents perspective, for the second year in a row, Amazon was ranked the company Americans love most on Morning
Consult’s Brands that Defined 2018, and it was named America’s Most JUST Company in Retail on JUST Capital’s Just 100 list.
Shares tumbled $56.05, or 3.3%, to $1,662.68
