Amazon Misses Earnings Estimates
Amazon’s ($AMZN) sales are up 22% from last year. Unfortunately, analysts and investors expected the company’s sales to be up even more than that. Since Amazon reported their earnings last night, the stock tumbled by 4.30%. The company beat profit estimates, but now they also have to deal with the slowing growth of their Web services division. For more on Amazon’s earnings, be sure to visit Quartz for their detailed report.
GoPro Lost $373 Million
GoPro ($GPRO) stock is down over 8% because the company not only missed earnings estimates, but lost $373 million last year. Though the company pulled in $540 million in the fourth quarter, they dealt with layoffs, a drone recall, and department closings throughout the year. The company’s Karma drone is set for a relaunch soon, but with a recent recall and more popular options, one must wonder if people will actually buy it this time.
Gamestop Pulling a Fast One on Customers?
Gamestop ($GME) allegedly set a program in place that forces their stores and employees to follow strict and complicated quotas. Meeting these quotas can often (again, allegedly) mean lying to customers about what’s in stock and preventing them from buying or selling new games and game systems. The company’s stock has been down for the last month, while industry sales of video games and consoles is still astronomically high. For more on this strange program and how it’s affecting company sales, read the Consumerist’s report.