Amazon Misses; Q4 Net Income Down 58 Percent To $177M; Sales Up 35 Percent

Amazon has just released fourth quarter 2011 earnings, missing sales expectations but beating earnings estimates. Net income decreased 58% to $177 million in the fourth quarter, or $0.38 per diluted share, compared with net income of $416 million, or $0.91 per diluted share, in fourth quarter 2010. Net sales increased 35% to $17.43 billion in the fourth quarter, compared with $12.95 billion in fourth quarter 2010. Analysts are expecting earnings of $0.17 cents a share on revenue of about $18.3 billion. ?We are grateful to the millions of customers who purchased the Kindle Fire and Kindle e-reader devices this holiday season, making Kindle our bestselling product across both the U.S. and Europe,? said Amazon CEO and founder Jeff Bezos. ?Our millions of third-party sellers had a tremendous holiday season with 65% unit growth and now represent 36% of total units sold.?

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