NEW YORK (TheStreet) -- For its fourth quarter, e-commerce giant Amazon.com (AMZN) - Get Report earned $1 a share, falling short of Wall Street's estimates of $1.56 a share. Revenue of $35.75 missed estimates of $35.93 billion.
Immediately following Amazon.com's disappointing results, reported after today's closing bell, shares were diving 10% to $568 in after-hours trading.
During the three months ended December 31, Prime Video streaming customers nearly doubled compared to a year ago as the service continues to grow globally.
Still, sales from its Web Services, its cloud-computing business, were $2 billion, trailing analysts' estimates of $2.38 billion.
For the first quarter of fiscal 2016, or current quarter, the company anticipates sales to be between $26.5 billion to $29 billion.
Earlier today, shares were taking off, as investors were welcoming the company's plan to create a stand-alone music streaming service, competing with other music streaming services like Spotify, Pandora (P) and Apple (AAPL) Music, according to the New York Post.
Separately, TheStreet Ratings currently has a Hold rating on the stock with a letter grade of C.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AMZN