Amazon shares plunge
 

Online bookseller Amazon posted its most profitable quarter but managed to hack off the cocaine nose jobs of Wall Street by badly missing estimates, sending its shares down more than 13 percent in after hours trading.

Wall Street is worried about the company’s determination to invest more in new areas, extremely low margins and its ability to consistently earn money.

For every dollar the company takes, it makes just 0.75 of a cent in profit which is incredibly low.

Amazon’s net profit for the fourth quarter, which includes the holiday shopping season, rose to $482 million up from $214 million a year earlier.

That figure was held back by rising operating costs.

The company’s shares plunged 13 percent to $551.50 after hours on Thursday, following a nine percent increase in regular trading.

Amazon notched its third consecutive profitable quarter for the first time since 2012, but Wall Street still wants more.

http://www.techeye.net/business/amazon-shares-plunge