Ralph
24.10.2000, 22:42
Amazon Surprises with Smaller Loss
SEATTLE (Reuters) - Online retail giant Amazon.com Inc. (NasdaqNM:AMZN - news) on Tuesday posted quarterly financial results that blew away estimates, surprising Wall Street with a smaller loss than it did a year ago as sales ballooned almost 80 percent.
The Seattle-based company said that on a pro forma basis its operating loss was $68 million, or 25 cents per share for the three months ended Sept. 30, compared with a loss of $79 million, or 26 cents a share a year earlier.
Amazon was expected to lose 33 cents a share, according to consensus analyst estimates compiled by First Call/Thomson Financial.
Revenues were $638 million, a 79 percent jump over the $356 million from a year earlier. Analysts had expected the company to bring in between $590 million and $605 million in the quarter.
Amazon also said its customer base grew by more than 2.8 million to more than 25 million. It said operating cash usage in the quarter, a recent concern among investors and analysts, fell to $4 million from $76 million a year earlier.
Ralph
SEATTLE (Reuters) - Online retail giant Amazon.com Inc. (NasdaqNM:AMZN - news) on Tuesday posted quarterly financial results that blew away estimates, surprising Wall Street with a smaller loss than it did a year ago as sales ballooned almost 80 percent.
The Seattle-based company said that on a pro forma basis its operating loss was $68 million, or 25 cents per share for the three months ended Sept. 30, compared with a loss of $79 million, or 26 cents a share a year earlier.
Amazon was expected to lose 33 cents a share, according to consensus analyst estimates compiled by First Call/Thomson Financial.
Revenues were $638 million, a 79 percent jump over the $356 million from a year earlier. Analysts had expected the company to bring in between $590 million and $605 million in the quarter.
Amazon also said its customer base grew by more than 2.8 million to more than 25 million. It said operating cash usage in the quarter, a recent concern among investors and analysts, fell to $4 million from $76 million a year earlier.
Ralph