This story has been updated from 11:09 am EST to include a JPMorgan analyst's comments and refresh Amazon's stock price.
NEW YORK (TheStreet) - Amazon (AMZN) shares sunk 9.5% to $364.53 on Friday following the big e-retailer's disappointing earnings report last night.
The Seattle-based company said after the bell on Thursday that for the fourth quarter it earned a profit of $239 million, or 51 cents a share, up from $97 million, or 21 cents a share, in the year-earlier quarter. However consensus estimates were calling for earnings of 66 cents a share.
Net sales also came in shy of analysts' expectations, increasing 20% year-over-year to $25.59 billion. Wall Street was expecting sales to rise 23% to $26.06 billion, according to Thomson Reuters. Amazon said that excluding a $258 million impact from foreign exchange rates throughout the quarter, net sales grew 22% compared with fourth quarter 2012.
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