Why Amazon Stock Is Sinking Today
Amazon (NASDAQ: AMZN) stock is slipping in Friday's trading. The tech giant's share price was down 4.1% as of 2:30 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was down 1%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 1.5%.
Amazon published its fourth-quarter results after the market closed yesterday, posting sales and earnings for the period that came in ahead of Wall Street's targets. But despite beating expectations for Q4, the company's forward guidance came in weaker than expected -- and investors are selling the stock in response.
Amazon posted earnings per share of $1.86 on revenue of $187.79 billion in the fourth quarter, beating the average Wall Street estimate's call for a per-share profit of $1.46 per share on revenue of $187.23 billion. The company's North America segment, which is primarily driven by e-commerce in the region, saw revenue increase 10% year over year to $115.6 billion. Meanwhile, the international segment grew 8% compared to the prior-year period to reach $43.4 billion. Sales for Amazon Web Services (AWS) were up 19% year over year to $28.8 billion.
Source Fool.com
