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Amazon sales outlook falls short as India regulation uncertainly bites

Brian Olsavsky, Amazon's chief financial officer, said on a call with reporters, the 'situation in India is a bit fluid right now

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Reuters Inc on Thursday forecast first-quarter sales below Wall Street estimates as new regulations in India created uncertainty around one of its key growth markets, even as the online retailer reported record holiday sales and profit. Shares of the company fell more than 5 per cent to $1,623.90 after the bell, sliding as company officials discussed expenses on a conference call with analysts. Amazon posted a 63 per cent jump in net income to $3 billion for the fourth quarter, ahead of analysts' estimates. Sales rose 20 per cent, and a record number of shoppers signed up ...

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First Published: Fri, February 01 2019. 05:24 IST