Amazon’s stock took a pummeling Wednesday after the online retailer released quarterly figures that fell short of Wall Street expectations, which had been built up in part by past years’ holiday performances. Amazon’s net income was $177 million, or 38 cents per share, a 57 percent percent drop from a year ago. Sales for the three months before Dec. 31 came out to $17.4 billion, lower than Wall Street expected over the traditionally busy holiday season. The Seattle company typically does not release specific unit sales numbers for its Kindle products.
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Ghost of Christmas Past Haunts Amazon
Posted by: Rachelle Dragani February 1, 2012 10:57 AMAmazon’s stock took a pummeling Wednesday after the online retailer released quarterly figures that fell short of Wall Street expectations, which had been built up in part by past years’ holiday performances. Amazon’s net income was $177 million, or 38 cents per share, a 57 percent percent drop from a year ago. Sales for the three months before Dec. 31 came out to $17.4 billion, lower than Wall Street expected over the traditionally busy holiday season. The Seattle company typically does not release specific unit sales numbers for its Kindle products.