Amazon.com reports surging profits
03/02/2005 - 08:48:03Amazon.com has reported a huge jump in Q4 profits to $346.7m, though a one-off tax benefit was responsible for most of it.
Profits for the same period last year were $73.15m.
Last night's results announcement included a one-off tax benefit of $244m. Excluding that, the company earned $149m, or 35 cents a share, less than the 40 cents analysts were expecting.
Higher sales of electronics and a strengthening overseas market boosted revenues by 31% to $2.54 billion, ahead of most forecasts, but off-set by an increasing advertising spend.
Amazon.com is to establishing its European Systems and Networks Operations Centre in Dublin, with the creation of 25 new jobs.
