Amazon is flourishing, but that’s not enough for Wall Street.
The stock dipped 4% after the company posted its seventh straight profitable quarter, with earnings of $749 million. Amazon’s sales in the fourth quarter reached $43.7 billion, up 22% from the same period a year ago. Still, they missed analysts expectations.
Of course, Amazon ( has been through this before. The stock plunged in October after earnings didn’t meet expectations. But it rebounded in the months since and flirted with all-time highs in January. , Tech30)
In its news release, Amazon CEO Jeff Bezos touted the growth of Amazon Prime. The company now offers more than 50 million items with two-day shipping, a 73% increase since 2015.
Related: Amazon needs only a minute of human labor to ship your next package
The service is facing increased competition. This week Wal-Mart ( announced it would offer free two-day shipping on over two million items when customers spend more than $35. )
Amazon expects to continue growing. It told investors that sales in the first quarter of 2017 would grow between 14% and 23% when compared with the same time period in 2016.
Amazon also announced that it hired a whopping 110,600 full and part-time employees in 2016, and now has 341,400 employees worldwide. It said earlier this year it planned to hire an additional 100,000 U.S. employees in the next 18 months.