Home › DMW Daily › January 29, 2009

Amazon Beats Q4 Estimates; Stock Climbs Almost 7%

Authored by Jay Baage on January 29, 2009 - 1:26pm.
Seattle - Internet retail giant Amazon.com posted a healthy Q4 revenue of $6.7 billion and profit of 52 cents a share, which topped the Street consensus of $6.44 billion and 39 cents and the stock rallied almost 7% in after-hours trading.

Net sales increased 29% to $19.17 billion, or 28% excluding the $127 million favorable impact from year-over-year changes in foreign exchange rates throughout the year, compared with $14.84 billion in 2007.
Operating income increased 28% to $842 million, or 27% excluding the $10 million favorable impact from year-over-year changes in foreign exchange rates throughout the year, compared with $655 million in 2007.

An interesting fact is that the company reported strong demand for its e-reader Kindle, which represents a product category which so far has not experienced a favorable reaction by consumers.

"We remain relentlessly focused on serving customers with low prices, great selection and free shipping offers, including Amazon Prime," said Jeff Bezos, founder and CEO of Amazon.com. "We're particularly grateful for the unusually strong demand for Kindle in the fourth quarter."

Related Links:
http://biz.yahoo.com/bw/090129/20090129006193.html
http://www.amazon.com/

Published in DMW Daily, January 29, 2009
tags: Marketing | Music | Amazon | Earnings | Retail | Books | Kindle |



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