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Home > General > The Cantina > [Econ D & Wait, what?] Amazon.com

[Econ D & Wait, what?] Amazon.com

 
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Fuzzy
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[Econ D & Wait, what?] Amazon.com
« on: January 29, 2009, 02:07:48 PM »
One small ray of light in the consistently bleak economic news these days. I did my part with just a touch over $100 given to the cause.

http://finance.yahoo.com/...limbs-9-apf-14200214.html

Quote
  NEW YORK (AP) -- Amazon.com Inc. said Thursday that its fourth-quarter profit rose 9 percent and beat analysts' forecasts. Those results, plus an optimistic forecast, sent its shares soaring nearly 10 percent in extended trading.

Amazon had called the holiday season its "best ever," and the earnings report backed up the idea that it is not being seriously hurt by cutbacks in consumer spending. Amazon said its revenue in the current quarter should be between $4.53 billion and $4.93 billion, while analysts are expecting $4.57 billion.

Shares of the Seattle-based online retailer shot up $4.86, or 9.7 percent, to $54.86 in after-hours trading. The stock had fallen 36 cents to finish regular trading at $50.

Amazon said its profit in the fourth quarter was $225 million, or 52 cents per share. That was better than the 39 cents per share expected by analysts polled by Thomson Reuters.

Revenue rose 18 percent to $6.7 billion, exceeding analyst estimates for $6.4 billion.

 Shocked 

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"You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose."
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birdymaker
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Re: [Econ D & Wait, what?] Amazon.com
« Reply #1 on: January 29, 2009, 02:29:27 PM »
saw that a couple of weeks ago. kinda hard to figure.  Dunno
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gleek
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Re: [Econ D & Wait, what?] Amazon.com
« Reply #2 on: January 29, 2009, 04:23:06 PM »
10 years ago people thought Jeff Bezos was nuts for keeping Amazon.com on pace for such rapid growth at the cost of short-term earnings. The company was bleeding billions annually, and some analysts thought the company would never turn a profit. Bezos turned out to be a *goshdarn* genius.
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