Just yesterday the Wall Street pundits were worrying about
the thin profits, but today Reuters reports that Amazon.com Inc's quarterly
results beat Wall Street's most bullish expectations as heavy spending by the
world's largest Internet retailer began to pay off through sales of more
digital products on its new Kindle Fire tablet.
Amazon shares surged almost 15 percent, increasing the
company's market value by more than $10 billion and boosting the stake of CEO
Jeff Bezos by almost $2.5 billion.
Analysts cheered first-quarter earnings and revenue which
comfortably exceeded their forecasts. Amazon
is spending in three main areas: fulfillment centers to support online retail;
video content and other media businesses; and infrastructure for its cloud
computing service….
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