Amazon on Tuesday reported a 51 percent rise in second-quarter revenue to $9.91 billion, surpassing Wall Street's expectations for $9.4 billion.
The company forecast third-quarter sales of $10.3 billion to $11.1 billion, compared with the average forecast for $10.35 billion, according to Thomson Reuters I/B/E/S.
Second-quarter net income fell to $191 million, or 41 cents per share, from $207 million, or 45 cents per share, in the same period a year earlier. Analysts expected 35 cents per share for the latest second quarter, according to Thomson Reuters I/B/E/S.
That's such a shame that they are too. They overextended themselves though... Too many big new fancy expensive stores. I'm surprised they couldn't find a way to salvage some of the company. I think they're a little mismanaged. I feel bad that I haven't bought much stuff from them. But then, I'm also not one of the people that went in there to read the books for free, then buy them cheaper someplace else. It should open up business for some of the little guys though.
They're gaining with internet sales I'm sure... No doubt, the big A shed no tears over the announcement. But I think there will always be the coffee house culture that will have a place, and that can be done cheaply. The problem with B was that they tried to offer the small coffee house culture to people using 15 million dollar stores.