Amazon Q4 Disappoints
Amazon shares closed 7.6 percent lower Friday at $587 on what analysts largely viewed as disappointing Q4 results. Revenue rose about 22 percent to $35.7 billion from the year-ago quarter, while profit more than doubled to $482 million. Wedbush's Michael…
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Pachter said a higher concentration of third-party goods sold via Amazon’s fulfillment services (FBA) will lead to higher Prime membership engagement and higher services revenue. Amazon said worldwide paid Prime memberships grew 51 percent in Q4. Credit Suisse's Stephen Ju said stronger media revenue was offset by "elevated shipping losses" from “rapid” FBA adoption. Amazon highlighted milestones of its Fire device lineup: Fire TV is the top-selling streaming media player in the U.S., having added more than 1,000 new apps, channels and games since September, including NBC, NBC Sports and Watch HGTV. The company said its Alexa voice platform is growing, and it added news sources from Bloomberg and CNN. Amazon Web Services announced general availability of AWS IoT.