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Amazon Q3 net up 246% - get some stock

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Fri, 10/22/2004 - 14:52 — Christoph C. Cemper

SAN FRANCISCO: Amazon.com Inc. on Thursday posted quarterly earnings that more than tripled on strong international sales but offered an outlook for 2005 that was below the more bullish analyst forecasts, sending its stock down 8 per cent.

Haha… time to get some fresh AMZN stock – as usual near week-ends with corporations not meeting any crazy forecasts they drop their share-price, altough it should rise tremendously… and x-mas is just coming ahead…

Quote:

Seattle-based Amazon said it would continue to offer free shipping in a bid to attract more customers through the crucial holiday season and beyond, a move that has cut into its profit margin.

Yet even a surge in profit and increasing revenue were not enough to reassure investors who pushed down the company's stock after its 2005 sales forecast missed Wall Street estimates.

For the third quarter, Amazon posted net income of $54.1 million, or 13 cents per share, up from a year-ago net profit of $15.6 million, or 4 cents per share.

Revenue rose to $1.46 billion from $1.13 billion, driven by a 52 per cent increase in international sales and strong growth in its electronics and other merchandise segment.

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