Amazon.com (AMZN). The Seattle-based web-based retailer Wednesday said fourth-quarter net income more than doubled to $207 million or 48 cents a share from $98 million or 23 cents a share profit recorded in the year-earlier period. Net sales for the quarter ending Dec. 31 rose 42% to $5.67 billion from last year's $3.99 billion.
The company said it expects first-quarter sales of $3.95 billion to $4.15 billion. For 2008, the company said it is targeting sales of $18.75 billion to $19.75 billion.
Shares of Amazon.com Inc. (AMZN) fell 12% to $65.16 in after-hours trading Wednesday after the company's gross margin fell to 20.6%, down from 23.4% in 3Q and 21.3% a year ago, and below the average analyst estimate of 21.4%.
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