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Amazon Reports Largest Profit Ever - Shares Plummet Amazon Jeff Bezos, founder and CEO of Amazon

Amazon Reports Largest Profit Ever - Shares Plummet

USA
2016-01-29 13:02

The online retailer delivered its most profitable quarter ever on Thursday but investors apparently are thirsty for more.

Amazon’s sales jumped 22% to $35.7 billion during the fourth quarter, but missed analysts' expectations of $35.93 billion. Amazon also delivered its third straight quarter of profits setting a new record with a quarterly profit of $482 million, or $1 a share.

This was however well under the $1.56 number analysts were expecting, sending its shares down more than 13% in after-hours trading.

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Passed $100 Billion in Revenue

For the year, Amazon passed $100 billion in revenue for the first time in its two-decade history. Net sales increased 20% to $107.0 billion, compared with $89.0 billion in 2014. Net income was $596 million compared with net loss of $241 million in 2014.

– Twenty years ago, I was driving the packages to the post office myself and hoping we might one day afford a forklift. This year, we pass $100 billion in annual sales and serve 300 million customers, says Jeff Bezos, founder and CEO of Amazon.

Jimmy Andersson

Senior editor

Freelance journalist who have gone from covering sports to online retailing. Been writing about e-commerce for four years.

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