Jan 31, 2019

Amazon sparks fears with sales forecast

Amazon has forecast lower-than-expected sales for the first three months of the year sparking investor fears over its future performance. Shares in the online giant fell over 2% in after-hours trading despite it reporting record sales for the Christmas holiday period. Amazon expects sales to grow between 10% and 18% tin the first quarter, slightly below analyst forecasts. Its shares are up around 14% this year on hopes its fast growth will continue. In the three months to the end of the year, which included the crucial Christmas period, revenue was up 20% to $72.4bn. Net income also surged, rocketing 63% to $3bn compared to the same period last year.

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