NEW YORK (TheStreet) -- Amazon
was a big winner in premarket trading on Wednesday, climbing more than 8% following the online retailer's fourth-quarter results, 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.
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