Last Update: 26-Apr-13 07:44 ET
Amazon shares fall 3% despite beat on earnings
Amazon.com (AMZN $266.27 -8.43) reported first quarter earnings of $0.18 per share, $0.10 better than the Capital IQ consensus of $0.08; revenues rose 21.9% year/year to $16.07 billion versus the $16.15 billion consensus and $15.0-16.6 billion guidance. Excluding the $302 million unfavorable impact from YoY changes in foreign exchange rates throughout the quarter, net sales grew 24% compared with first quarter 2012. Operating income decreased 6% to $181 million in Q1 vs. ($285)-65 million guidance and $90 million consensus. The unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $12 million. The company issued in-line guidance for the second quarter with revenues of +13-26% to $14.5-16.2 billion versus the $15.93 billion Capital IQ Consensus Estimate. Operating income (loss) is expected to be between $(340) million and $10 million, compared to $107 million in the comparable prior year period and the $143 million consensus; Amazon.com has tended to guide operating income conservatively.
Amazon.com (AMZN $266.27 -8.43) reported first quarter earnings of $0.18 per share, $0.10 better than the Capital IQ consensus of $0.08; revenues