THESTAR.COM Amazon.com Inc shares slumped after the largest Internet retailer said it may lose money in the first quarter, a sign the company is continuing to spend heavily on expansion and new ventures. Amazon said fourth-quarter net income was $177 million (U.S.), or 38 cents per share, down from $416 million, or 91 cents per share, a year earlier. Revenue came in at $17.43 billion (U.S.), up 35 per cent from the fourth-quarter of 2010. Amazon forecast first-quarter operating results ranging from a loss of $200 million to a profit of $100 million.
That includes about $200 million for stock-based compensation and other
expenses. Amazon was expected to make $426.5 million in the first quarter of 2012, according to a survey of six analysts by Thomson Reuters. These estimates include stock-based compensation and other expenses. Amazon shares dropped more than 9 per cent in after-hours trading following the results.
That includes about $200 million for stock-based compensation and other
expenses. Amazon was expected to make $426.5 million in the first quarter of 2012, according to a survey of six analysts by Thomson Reuters. These estimates include stock-based compensation and other expenses. Amazon shares dropped more than 9 per cent in after-hours trading following the results.
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