Quote of the day - AMZN
"We've lowered prices five times over the last 15 months, and simply put, it's working."
-Amazon.com
Internet retail giant Amazon.com Inc. (AMZN) Thursday reported a narrower net loss in the third quarter on sharply higher revenues, reflecting the success of a free-shipping incentive program and robust growth overseas.
The company also raised fourth-quarter revenue guidance, and said it planned to continue its free-shipping promotion, on orders of $25 or more, through the holidays.
Amazon said it had a net loss of $35 million, or 9 cents per share, compared with a loss of $170 million, or 46 cents per share, a year earlier.
Including interest expenses but stripping out a range of charges, such as stock-based compensation, goodwill amortization, restructuring, accounting changes and other charges, Amazon said, it had an operating profit of $27 million, or break-even per share.
The company said revenue rose 33 percent to $851.3 million from $639.3 million a year earlier, above the $780 million to $830 million the Seattle-based online superstore had projected.
cbs.marketwatch.com
Down AH but not a lot |
