Cash flows into Amazon.com coffers a little faster

Amazon.com edged a step closer to profitability today when it announced that expected losses for the first quarter had reduced to less than $225m.

By Suzanna Kerridge, 9 April 2001 15:27

NEWS Excluding the cost of restructuring, the net loss is expected to hit $150m compared with the previous quarter's $308m. Revenue on US books, music and video sales had increased 30 per cent while overall sales were up by 21 per cent. Jeff Bezos, CEO at Amazon, said the company had had an excellent quarter with substantial improvement in operations and the company's bottom line. He noted particularly strong growth in the company's online electronics sales. Amazon will release its full results on 24 April.

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