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Amazon posts 45% fall in net income

Amazon.com says its fourth-quarter net income fell 45%, as higher revenue failed to keep pace with increased spending on order fulfilment and digital content.

The online giant said it earned 97 million dollars (62 million), or 21 cents per share, in the October-December period.

That is down from 177 million dollars (112 million), or 38 cents per share, in the same period a year earlier.

Revenue at the world's biggest online retailer grew 22% to 21.27 billion dollars (13.5 billion) from 17.43 billion dollars (11.06 billion).

FactSet says analysts had expected earnings of 28 cents per share on revenue of 22.26 billion dollars (14.12 billion) .

For the current quarter, Amazon expects revenue of 15 billion dollars to 16.6 billion dollars (9.5 billion to 10.5 billion). Analysts had expected revenue of 16.86 billion dollars.

Nonetheless, Amazon's stock is up 5% in after-hours trading in the heels of the announcement.

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