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Thursday, February 3, 2011
Amazon Dives Late After Q4 Sales Miss, Q1 Profit Guidance
Amazon.com beat fourth-quarter earnings forecasts, but sales fell a little short and the e-retail king gave disappointing profit guidance, sending shares plunging in late trading. The Seattle-based online seller of books, electronics and more earned 91 cents a share, 7% above a year earlier and 3 cents above the estimate of analysts polled by Thomson Reuters. That excludes one-time costs but includes stock-based compensation. Sales rose to $12.95
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