Forum Moderators: buckworks
Amazon.com Inc. rose the most in 18 months on the Nasdaq after reporting sales that topped analysts’ predictions, fueling optimism that a surge in spending on warehouses and data centers will result in faster growth.
Revenue last quarter rose 38 percent to $9.86 billion, beating the $9.54 billion average prediction of analysts in a Bloomberg survey.
Amazon Chief Executive Officer Jeff Bezos is using a swelling cash hoard to promote the Kindle book reader, erect distribution centers and add equipment that delivers computing via the Internet. Last quarter marked the eighth straight period of rising capital spending. While the increase is eroding profitability, it’s helping Amazon expand into new markets, such as cloud computing.
