Amazon.com delivers, shares jump
Amazon.com Inc. reported quarterly net profit today, which rose an astonishing 250 percent, as sales in its home market jumped. Consequently, shares were sent up nearly 13 percent. It was indeed an amazing performance.
Net income in the second quarter rose to $78 million, or 19 cents per share, compared with $22 million, or 5 cents a share, a year earlier. Revenue rose 35 percent to $2.89 billion in the second quarter, which is seasonally the slowest. In North America, net sales rose 38 percent, Amazon said. These numbers have all surpassed previous estimates. Amazon also raised its full-year forecasts.
The dot-com company did surprisingly well, and looks very brightly at the future. Sure Amazon had its share in tough times, but right now the company is valued well above both major Internet players and brick-and-mortar retailers.
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