Originally published Wednesday, July 23, 2008 at 12:00 AM
PrintAmazon beats expectations as profit doubles
Amazon.com said today that its second-quarter profit more than doubled and surpassed Wall Street's expectations. Sales were strong in several...
Amazon.com said today that its second-quarter profit more than doubled and surpassed Wall Street's expectations. Sales were strong in several sections of Amazon's massive marketplace.
The Seattle-based Web retailer earned $158 million, or 37 cents a share, for the quarter that ended June 30. Amazon earned $78 million, or 19 cents a share, in the same quarter last year.
The company's revenue climbed 41 percent to $4.06 billion.
Analysts polled by Thomson Financial had expected earnings of 26 cents a share on $3.96 billion in revenue.
Sales of things like books, CDs and DVDs rose 31 percent to $2.41 billion, while electronics and other general merchandise sales rose 58 percent to $1.53 billion.
Copyright © 2008 The Seattle Times Company
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