Amazon posts solid fourth quarter profit but shares dip over revenue

Online retailer announces 55% rise in year-on-year profit but even a 22% bump in revenue can't match Wall Street's expectations

Amazon had a bumper holiday, as the online retailer announced a 55% rise in fourth-quarter profit on Thursday for the three months ending 31 December, but its share price fell in after hours trading after the retail and services giant narrowly missed Wall Street's sales expectations.

For years, Amazon eschewed profits for growth, to the criticism of many investors. Profits for the final quarter of 2016 rose to $749m from $482m a year earlier, the seventh straight profitable quarter for Amazon.