Larry Dignan

Larry Dignan is the former Editor in Chief of ZDNet. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that, he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CNET Larry has covered the technology and financial services industry since 1995, publishing articles in, Inter@ctive Week, The New York Times, and Financial Planning magazine. He's a graduate of the Columbia School of Journalism and the University of Delaware.

Larry Dignan has nothing to disclose. He does not hold investments in the technology companies he covers.

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Amazon reports first-ever profit

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

January 22, 2002 by in Amazon