Amazon Second-Quarter Profit Jumps 45%
Amazon Second Quarter Profit Jumps 45%
Amazon Inc. issued a statement on Thursday saying its second-quarter net income jumped 45%, below company’s analyst expectations, and its stock dove in after-hours trading.
For the April-June quarter, the revenues were $207 million, or 45 cents per share, meaning a 45 percent increase from $142 million, or 32 cents per share.
This time, expenses grew 40 percent to $6.3 billion, because of the rising fulfillment costs — $582 million, compared to $409 million last year.
In a press conference, Chief Financial Officer Tom Szkutak said the growth came mainly from sales of electronics and other general merchandise.
This current quarter is expected to reach $7.6 billion from $6.9 billion, showing a growth of 27 percent to 40 percent over the third quarter of 2009.
Analysts expect $7.1 billion in revenue.
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Posted by Marian Ciovirta on Jul 23 2010 Filed under Economy. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
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