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The world’s largest internet retailer’s profit doubled and revenue climbed 20 per cent, but Wall Street traders were dissatisfied and drove the stock price down in after-hours trading on Thursday.
Net income in the fourth quarter more than doubled to $239 million, while revenue climbed 20 per cent to $25.6 billion from $21.27 billion in fourth quarter 2012. Analysts polled by Bloomberg news had projected higher figures for both profit and revenue.
In after-hours trading the stock price was down more than 10 per cent.
Net income for 2013 was $274 million, which compared with net loss of $39 million in 2012. Net sales increased 22 per cent to $74.45 billion, compared with $61.09 billion in 2012.
The company announced a slew of new support services and features in the quarter, and Bloomberg news reported it is spending on warehouses to speed deliveries. Amazon chief executive Jeff Bezos has emphasised long-term growth over near-term profitability profits.
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