Amazon stock cut down 9% late after posting $17.43 billion in sales, short of estimates

SAN FRANCISCO (MarketWatch)
Amazon.com reported a sharp drop in earnings for the fourth quarter despite a strong gain in revenue, though the final earnings results came in ahead of Wall Street's estimates
For the quarter ended Dec. 31, Amazon AMZN -8.71% reported net income of $177 million, or 38 cents a share, compared to net income of $416 million, or 91 cents a share, for the same period the previous year
Revenue jumped to $17.4 billion
Analysts were expecting earnings of 17 cents a share on revenue of $18.3 billion, according to consensus estimates from FactSet Research
Amazon said it expects revenue to come in the range of $12 billion to $13.4 billion
Analysts were expecting revenue of $13.4 billion for the period