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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 244.25-2.0%3:59 PM EST

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To: hdl who wrote (159445)10/21/2003 8:56:19 PM
From: Victor Lazlo  Read Replies (1) of 164684
 
Amazon disapoints inflated expectations ..

Amazon.com (AMZN 58.06 -1.29) stock has traded 2% lower following the internet retailer's in line Q4 (Dec) and FY04 outlooks. After topping the Reuters Research top and bottom-line consensus estimates in its Q3 (Sept) report, the company said it expected Q4 (Dec) revenue growth of 23-34%, to $1.76-1.91 bln, which only encompassed the consensus expectation of $1.78 bln. Management did add, however, that it expects its biggest holiday shopping season ever thanks to free shipping and low prices. As for FY04, the company pegged net sales at $5.75-6.25 bln as compared to the consensus of $6.12 bln.
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