The dude who wrote that article in Barron's slamming AMZN EBAY and YHOO has got to be cringing right now... man oh man...
Managed to get a piece of AMZN at 27.13 and thought I was late!
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Amazon.com Inc.'s loss narrowed from the year earlier and revenue soared 28% as the online retailer's aggressive cost-cutting tactics continued to pay off. The company also raised its full-year sales forecast.
Amazon, based in Seattle, posted a first-quarter net loss Thursday of $10 million, or three cents a share, compared with a net loss of $23.2 million, or six cents a share, in the year earlier period.
On a pro forma basis, the company swung to a profit from the year earlier. Pro forma profit, which includes interest expense, was $40 million, or 10 cents a share, compared with a pro forma net loss of $5 million, or a penny a share, in the first quarter of 2002.
The results far exceeded Wall Street's expectations. Analysts surveyed by Thomson First Call expected Amazon to earn four cents a share. |
