Amazon Beats Earnings Expectations, Increases Sales in Q4 2014

The company’s price per share far exceeds what Wall Street had predicted, as the online retailer transitions into content development

Last Updated: January 29, 2015 @ 2:32 PM

Good news for Amazon: The company handily beat analyst expectations with its earnings for the fourth quarter of 2014.

The online retailer-entertainment company reported earnings of 45 cents a share — a far cry better than the 17 cents per share that Wall Street had predicted.

The news follows Amazon Studios’ groundbreaking wins at the Golden Globe Awards earlier this month for original series “Transparent” and its star Jeffrey Tambor and announcements that Amazon would be the home for movie auteur Woody Allen’s first TV project and that the company intends to release 12 original films a year.

The most recent fourth quarter earnings figure is down, however, from the 51 cents per share that Amazon reported for the fourth quarter of 2013. The company reported net income of $214 million for the fourth quarter of this year, compared to $239 million in the fourth quarter of 2013.

In sales, the company reported a 15 percent increase over the same period 2013, notching $29.33 billion, versus $25.59 billion in Q4 2013.

Overall, for the full year of 2014, Amazon’s net sales increased 20 percent to $88.9 billion, compared to $74.45 billion in 2013.

Keep
Reading...

Looks like you’re enjoying reading
Keep reading by creating
a free account or logging in.