Amazon shares fell to their lowest point since late March after Goldman Sachs released a research note Thursday citing comScore data suggesting its holiday sales grew roughly 38 percent — 2 percent off analyst expectations of 40 percent. The numbers imply fourth-quarter revenue of $17.87 billion, below the current consensus of $18.19 billion, the note says, because for the past five years, Amazon’s year-over-year Q4 sales growth has outpaced holiday season growth in e-commerce by 23 percentage points on average. ComScore reported a 15 percent rise in online holiday spending to a record $35 billion.
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Amazon Share Price Nicked by Goldman Advice
Posted by: Rob Spiegel December 29, 2011 12:24 PMAmazon shares fell to their lowest point since late March after Goldman Sachs released a research note Thursday citing comScore data suggesting its holiday sales grew roughly 38 percent — 2 percent off analyst expectations of 40 percent. The numbers imply fourth-quarter revenue of $17.87 billion, below the current consensus of $18.19 billion, the note says, because for the past five years, Amazon’s year-over-year Q4 sales growth has outpaced holiday season growth in e-commerce by 23 percentage points on average. ComScore reported a 15 percent rise in online holiday spending to a record $35 billion.