Business
Amazon reports first-ever profit
Amazon on Tuesday reported its first-ever profit in the fourth quarter on record sales, delivering on its promises to Wall Street. Amazon reported net income of $5 million, or a penny a share, under generally accepted accounting principles, well ahead of analysts' expectations. Most analysts had predicted that the company would report a profit on a pro forma basis, which excludes a host of expenses and charges. Fourth-quarter sales were $1.12 billion, compared with $972 million a year ago. The e-tailer's pro forma profits topped estimates handily, at $35 million, or 9 cents a share. According to First Call, Amazon was expected to lose 7 cents a share, excluding goodwill, on sales of $1.01 billion. --Larry Dignan, Special to ZDNet News
Amazon on Tuesday reported its first-ever profit in the fourth quarter on record sales, delivering on its promises to Wall Street.
Amazon reported net income of $5 million, or a penny a share, under generally accepted accounting principles, well ahead of analysts' expectations. Most analysts had predicted that the company would report a profit on a pro forma basis, which excludes a host of expenses and charges. Fourth-quarter sales were $1.12 billion, compared with $972 million a year ago.
The e-tailer's pro forma profits topped estimates handily, at $35 million, or 9 cents a share. According to First Call, Amazon was expected to lose 7 cents a share, excluding goodwill, on sales of $1.01 billion. --Larry Dignan, Special to ZDNet News