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Amazon Stock Flat After Strong Earnings Report
After missing analysts' expectations for three consecutive quarters, Amazon beat the Street's forecast, reporting earnings of $0.18 per share compared to earnings of $0.28 per share last year. Wall Street analysts were expecting earnings of $0.10 per share.
Despite the good news, Amazon's stock was up only 1% to approximately $277 per share in after-hours trading.
The report shows that sales continued to grow at a slightly slower clip in Q1, up 22% year-over-year to $16.07 billion. Growth for the last four quarters has averaged 28%. Operating cash flow increased 39% to $4.25 billion. Free cash flow declined 85% to $177 million, which Amazon attributes to its $1.4 billion investment in property and corporate office space at its headquarters in Seattle. Read more...
More about Amazon, Business, Marketing, and StartupsOriginal Link: http://feeds.mashable.com/~r/Mashable/~3/CsW0-sbxQIU/
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