Earnings: Investors Cheer Double-Digit Revenue Growth Inc. (NASDAQ:AMZN) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. However, Amazon delivered strong top-line growth. Shares are up 7.31%.

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Results: Net income decreased -45.2% to $97 million (21 cents per diluted share) in the quarter versus a net gain of $177 million in the year-earlier quarter.

Revenue: Rose 22.02% to $21.27 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Inc. reported adjusted net income of 21 cents per share. By that measure, the company missed the mean analyst estimate of $0.29. It missed the average revenue estimate of $22.26 billion.

Quoting Management: “We’re now seeing the transition we’ve been expecting,” said Jeff Bezos, founder and CEO of “After 5 years, eBooks is a multi-billion dollar category for us and growing fast – up approximately 70% last year…

…In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5%. We’re excited and very grateful to our customers for their response to Kindle and our ever expanding ecosystem and selection.”

Key Stats:

Revenue increased 54.06% from $13.81 billion in the previous quarter. Net income increased to $97 million in the quarter versus a net loss of $274 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.35 to a profit $0.34. For the current year, the average estimate has moved down from a profit of $0.15 to a loss of $0 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)