NEW YORK (
was a big winner in premarket trading on Wednesday, climbing more than 8% following the online retailer's
, which were released after market close on Tuesday.
Investors responded positively to Amazon's 22% year-over-year revenue hike, which beat estimates, and shrugged off the company's bottom-line miss. Amazon earned 21 cents a share on $21.27 billion in revenue, compared to Wall Street's forecast of 28 cents a share on $22.26 billion in revenue. During the prior year's quarter, the company earned 38 cents a share on $17.43 billion in sales.
The company's first-quarter guidance, however, was weaker than anticipated, with Amazon forecasting revenue between $15 billion and $16.6 billion. Analysts were expecting $16.85 billion in sales.
Nonetheless, Amazon shares surged 8.82% to $283.3 before market open.
Research In Motion
, which will unveil its new
at a glitzy event in New York on Wednesday, was another gainer, climbing 1.98% to $15.97.
In addition to the eagerly anticipated OS, RIM is expected to launch
new smartphones; a touchscreen device and another which features a QWERTY keyboard.
, which reports its fourth-quarter results after market close, was another gainer, climbing 1.62% to $31.29.
Analysts surveyed by
expect Facebook to report revenue of $1.53 billion and earnings of 15 cents a share.
shares, which gained 1.88% during Tuesday's trading, slipped 0.17% to $457.5.
shares rose 1.32% to $19.96, despite slipping 3% during Tuesday's trading. The Internet giant reported better-than-expected
earlier this week.
will be live-blogging RIM's BlackBerry 10 event, starting at 9.30 EST:
--Written by James Rogers in New York.
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