Amazon reported its first-quarter earnings last week, and despite hitting earnings-per-share estimates and achieving a tiny revenue beat, stock was down nearly 5% today. Right now it’s down about 3.9%, after being down 9.8% Friday.
Not only did the company’s sales growth fall to 23% in Q1, down from 25% in 2013’s Q4 and 29% in Q3, but it expects a hefty operating loss in the next quarter.
Amazon’s guidance said that it expects to lose between $US55 and $US455 million, likely as it continues to pour money into its grocery delivery service, streaming TV box and content, and potential in-house delivery service.
Amazon has always been a long-term-focused company, and investors have generally tolerated the lack of profits, but it seems they could be getting a little impatient.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.