Shares of Amazon (NASDAQ: AMZN) were down 4.4% as of 12:18 p.m. ET on Friday, following the e-commerce and cloud computing leader's release of its fourth-quarter 2022 report the prior afternoon.

There were likely two main culprits for investors' displeasure -- earnings that missed Wall Street's consensus estimate and first-quarter 2023 revenue guidance that was lighter than analysts had been expecting.

On the positive side, fourth-quarter revenue came in higher than analysts had been projecting. That said, Wall Street's expectations for Amazon's sales in the holiday quarter had been relatively modest.

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Source Fool.com