Shares of Amazon.com (AMZN) are down $15, or 8%, at $171.18, after the company reported Q4 revenue of $12.95 billion, up 36%, year over year, but below analysts’ $12.98 billion estimate. EPS of 91 cents, however, beat the average 88-cent estimate.

Operating income was $474 million for the quarter, the company said.

Amazon forecast Q1 revenue of $9.1 billion to $9.9 billion, beating the consensus $9.3 billion forecast, with operating income in a range of $260 million to $385 million.

Excluding foreign exchange effects, the company’s sales would have grown 37%, the company said.