As noted by CNN/Money, online retailer and dot-com giant Amazon.com has posted its first-ever quarterly net profit, a penny a share on an operating income of 9 cents a share, today. Amazon beat Wall Street estimates by 2 cents per share for its quarterly net income. The announcement sharply contrasts a loss of $545 million a year ago.
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Good to hear of ".com" success for once. It should help with the perception of the industy.
Online shopping is a blessing during december...I avoided all the crowded malls. Really saved me time.
It is definitely good news that Amazon finally turned a profit.
The bad news is they made $5million on revenues of $1.12BIllion. I hope they can improve their cost structure.
like the previous post stated, amazon has really come in handy for me in avoiding xmas crowds the past couple of years.
I really dig Amazon.com, forget about buying presents there, I buy books for myself from them. Their selection and prices are awesome, and I like that I can buy virtually any book I want used. It sure beats running around town hitting 3-4 used bookstores to find what I'm looking for.
I'm glad to hear it, Amazon.com is a great service.
Very happy to hear this, as I like Amazon a lot. I confess I had begun to wonder just how much longer Bezos would be able to hold off the wolves
If you can read a balance sheet properly, you'll find that this "profit" ignores so much that should or could be charged that it's absurd. Interest payments? Tedious stuff that you and I would have to actually count? Shoved off the balance sheet.
It's a great site, but don't believe this top line. Wait for the full sheets.
I agree with Charles.
Proforma profits are a sham. Wait for the GAAP numbers or the 10K filing, it's harder for them to finesse those numbers. Once you start removing "one-time charges", interest payments, etc, you're not really talking about net profit but something more vague like "operational profit" which is meaningless, but which investors seem to follow without thought.
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It's about time
I am glad that the profits started before the investors patience wore thin.