EARNINGS ROUNDUP / AMAZON.COM
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Amazon.com Inc. said its fourth-quarter profit rose 9%, surpassing analysts’ forecasts. Those results, plus an optimistic forecast, sent its shares up as much as 13% to $56.39 in after-hours trading. The online retailer had called the holiday season its “best ever,” and the earnings report backed up the idea that the Seattle firm is not being seriously hurt by cutbacks in consumer spending.
Amazon said its revenue in the current quarter should be $4.53 billion to $4.93 billion. Analysts are expecting $4.57 billion.
Profit in the fourth quarter was $225 million, or 52 cents a share. Analysts were expecting 39 cents.
Revenue rose a better-than-expected 18% to $6.7 billion. If not for the strengthening dollar, which diminishes the value of sales in other currencies, Amazon said its revenue would have risen 24%.
The recession’s effects may have shown up in Amazon’s gross profit margin. It declined to 20.1%, from 20.6% last year.
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