Profit eludes Amazon

NEWS Amazon failed to repeat a profitable performance in yesterday's quarterly results, but treated investors to a loss that was significantly down on the previous year, and provided further encouragement by recording growing sales. Shares closed 1.75 per cent down at $14.06, but rose $1.12 in after hours trading. Amazon posted a $23m loss for the first quarter, or six cents per share, compared with a loss of $234m, or 66 cents per share, in the same quarter last year. Excluding interest, tax and charges, pro-forma loss came in at $5m, or one cent per share - matching exactly Amazon's fourth quarter pro-forma profit. Amazon attributed a 21 per cent revenue boost on improved international sales. Revenue jumped to $847m, up from $700m last year. For related news, see:
Profitability eludes Amazon again
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