NEW YORK -- Amazon.com (AMZN) said fourth-quarter revenue rose 22% but the online retailer missed Wall Street's bottom-line estimate.
Amazon posted earnings Tuesday of 21 cents a share on revenue of $21.27 billion in the period.
Analysts were looking for earnings of 28 cents a share on fourth-quarter revenue of $22.26 billion. In the year-earlier quarter, Amazon earned 38 cents a share on $17.43 billion in sales.
First-quarter guidance from Amazon was weaker than anticipated, with the company forecasting revenue between $15 billion and $16.6 billion. Analysts were expecting $16.85 billion in sales. Amazon expects first-quarter operating income between a loss of $285 million and a gain of $65 million.Amazon Revenue Soars 22%, Stock Surges
Facebook (FB) is expected to issue its fourth-quarter earnings after the stock market closes on Wednesday and analysts expect the world's biggest social networking company to post profit of 15 cents a share on revenue of $1.51 billion. Bank of America Merrill Lynch reiterated its "buy" rating on Facebook on Monday, citing expected revenue acceleration and upside from mobile. TheStreet will be live-blogging Facebook's results beginning at 3:45 p.m. EST.
Research In Motion (RIMM) unveils its eagerly anticipated BlackBerry 10 technology on Wednesday. TheStreet will be live-blogging the announcement beginning at 9:30 a.m.
Boeing (BA) is expected by Wall Street Wednesday to report fourth-quarter earnings of $1.19 a share on revenue of $22.36 billion. Boeing's report comes amid an intensifying investigation by U.S. regulators of the lithium-ion batteries used in Boeing's grounded 787 Dreamliners.
Chesapeake Energy (CSK) CEO Aubrey McClendon is leaving the company he founded 24 years ago amid philosophical differences with the company's new board. The natural gas producer said Tuesday that McClendon will step down April 1 and will serve as CEO until a successor is named. He is departing even though Chesapeake said a review of his business dealings hasn't revealed improper conduct.
Broadcom (BRCM) beat analysts' fourth-quarter estimates but guidance came in below Wall Street's views. The key Apple (AAPL) partner generated revenue of $2.08 billion, a 14% increase from a year earlier; analysts were expecting revenue of $2.07 billion. Excluding items, Broadcom earned 76 cents a share, up from 68 cents. Analysts were looking for earnings of 73 cents. Broadcom said it expects first-quarter revenue of between $1.82 billion and $1.98 billion, below forecasts of $2 billion. Broadcom Shares Slip on Downbeat Outlook
-- Written by Joseph Woelfel
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