Amazon shares plunge after missing holiday quarter estimates

Shares in the online retailer dropped 12% after announcing a net profit of $482m in last months of 2015, a gain that was less than analysts had been expecting

Amazon recorded it largest ever quarterly profit over the holiday quarter but missed Wall Street's estimates by a wide margin, sending its share price into a tailspin.

Shares in the world's largest online retailer plunged 12% on Thursday after it announced a net profit of $482m for the three months ending 31 December - up from $214m a year earlier. The company notched up $35.75bn in sales in last year's final three months.