Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (15705)	4/27/1998 8:57:00 PM
From: j g cordes	Respond to of 68364

Clint, looks like your good for the open.. By Frank Barnako, CBS MarketWatch Amazon.com (AMZN) reported better-than-expected first-quarter financial results Monday, and the pioneering online bookseller also set a course for aggressive expansion with the acquisition of three Internet companies. Additionally, Amazon declared a 2-for-1 stock split payable June 1. The financial report showed a loss of $87.4 million, or 40 cents a share, vs. the loss of 48 cents that most analysts projected. Amazon said sales in the quarter rose 32 percent from the last quarter of 1997, while the number of customer accounts grew to 2.2 million, a 50 percent increase from the last quarter of last year. CEO Jeff Bezos said, "We are very pleased with our acceleration in new customer acquisition: it took us 27 months to serve our first million customers, and less than six months to serve our second million," he said. As for sales, he added, "Our strong revenue growth has now made us the third-largest bookseller in the U.S., online or offline." Announcing a European expansion push, Amazon said it acquired two international online booksellers: British-based Bookpages (www.bookpages.co.uk) and Germany's Telebook (www.telebuch.de). Closer to home, Amazon said it acquired the 8-year-old Internet movie-lover's resource, the Internet Movie Database (www.imdb.com), whose database of thousands of reviews, plot analyses, critiques and comments will be useful as Amazon plots its move into online video sales. The company will incur total charges of about $55 million in connection with the purchases, including cash and common stock. The company anticipates issuing an aggregate of approximately 540,000 shares of common stock as a result of these transactions. Ahead of the news, shares of Amazon fell 2 1/8 to 82 3/4.