By editorial@silicon.com, 31 January 2001 09:15
NEWS Its loss over the three months ending 31 December 2000 was $90.4m on sales of $972m, compared with $184.9m, a year earlier. CFO Warren Jensen said: "We have some clear objectives relating to profitability in the fourth quarter. These [job losses] were some things that needed to be done to achieve profitability and for the long-term health of Amazon.com." The focus of today's announcement from Amazon was whether after last year's dot-com implosion the 2001 forecast would change downward. In response to this Amazon lowered its 2001 predictions for Q1 and for the year. Amazon predicted that revenue would grow by 20 to 30 per cent to between approximately $3.3bn and $3.6bn. Last year, the company said revenues would hit $4bn in 2001. Amazon stated it would reach profitability in Q4 of 2001. Amazon CEO Jeff Bezos was upbeat, stating: "We've been asked thousands of times when we would be profitable? Today, we are comfortable answering that question."
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