"Amazon: Black ink in sight
by Monica Soto
Seattle Times technology reporter
Perhaps they didn't hear him the first time.
Not a soul stirred after Jeff Bezos, founder and chief executive of online
retail giant Amazon.com, told investors yesterday that the Seattle
company's U.S. books, music and videos segments would be profitable
by the end of the year.
"You guys can applaud," Bezos said, addressing investors at the
company's annual shareholders meeting at the Sheraton Seattle hotel
downtown. "We've always been confident and passionate about our
strategy, but it's nice to show people once in a while."
It was news investors wanted to hear from the company, which has
been under increasing scrutiny for its money-spending ways.
In 1999, Amazon.com lost $720 million on sales of $1.65 billion. The
company, which two years ago sold only books, music and videos,
added auctions, a 'virtual mall' called zShops, toys, electronics,
home-improvement products, software, video games, payments and its
wireless initiative, Amazon Anywhere, to its site last year. A week ago,
the company also added online cookware. "
James,
Maybe no applause because no model was provided? |
