Thursday, July 26, 2012

Two Losers: Amazon.com, Inc.(NASDAQ:AMZN) & Facebook Inc(NASDAQ:FB)

Amazon.com, Inc.(NASDAQ:AMZN) turns sharply lower in after hour market activity and slumped as much as 3% to $213.50 after the company reported less than estimated second quarter earnings. Moreover, the company projected much lower than estimated revenue for the third quarter.

Get Complete Analysis on Earnings on AMZN, HERE

The company posted net income of $7 million or a penny a share, down 96% from a year ago profit of $191 million, or $0.41  a share,, missing analysts’ estimate by a penny. Revenue during the quarter came in at $12.83 billion, up 29% year over year, again missing analysts target of $12.89 billion.

For the third quarter, the company projects to generate revenue of between $12.9 billion and $14.3 billion, shy of analysts’ estimate of $14.10 billion.

Facebook Inc(NASDAQ:FB) slumped another 9% in extended session after plunging 8.50% in regular session as the company failed to surprise investors with big earnings or revenue. The company swung to second quarter loss of $157 million, or 8 cents a share, reversing a year ago net income of $240 million, or 11 cents a share, when the company was private.

Get Complete Analysis on Earnings on FB, HERE

Shares of FB are showing wild moves in after hours as the stock was recently down over 10% to record low after gaining 8% just within a minute after reporting numbers. The stock ended lower 8.50% in the regular session.

Monthly active users jumped 29% from a year ago at 955 million and daily active users added 32% to 552 million. Mobile monthly active users were 543 million, jumped 67%.During the first quarter, Facebook had 901 million monthly visitors and 526 million daily visitors.

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