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February 03, 2005
Amazon suffers lack in market confidence
Finance markets are frowning on Amazon, as rising revenues are met by falling profits.
While Amazon posted increased profits in Q4 of $2.5 billion, it posted profits of just over $102 million for the same period, after a tax credit of $244 million.
Overall,Amazon reported profits for 2004 of $588.5m on revenues of $6.92bn. That compares with 2003 earnings of $35m on revenues of $5.26bn.
However, market analysts suggest too much money is being wasted on consumers, rather than being given over to stockholders.
Posted by at February 3, 2005 10:15 PM
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