Wednesday, July 27, 2011

Amazon’s Earnings Beat Expectations, Even as Profits Fall - NYTimes.com

Check the article link below for a detailed Amazon snapshot

Three months ago, Amazon predicted that second-quarter profits might fall by as much as two-thirds. But the company is apparently selling so many things to so many people that it can make sizable investments and barely feel the pain.

In after-hours trading, investors celebrated by pushing the stock up $13.57, to $227.75. Amazon shares have quadrupled in recent years.

[…]

The Seattle-based company is also expected to follow the success of its Kindle e-reader by introducing a multipurpose tablet this fall. The tablet will allow users to read the electronic books they bought from Amazon, listen to the music they bought from Amazon and watch video they bought from Amazon, all on one device.

Amazon’s Earnings Beat Expectations, Even as Profits Fall - NYTimes.com

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