Amazon.com shares up after better-than-expected quarter
27/07/2005 - 09:03:18Amazon.com shares rose almost 11% in after-hours trade overnight after the online retailer turned in a more profitable quarter than analysts expected as sales grew 26%.
The spike in sales was powered by low-cost and free-shipping incentives, the company said, the same factors that chipped away at Amazon's profits.
The stock was last changing hands for $41.77, a gain of $4.03.
Amazon.com earned $52m (€43.4m), or 12 cents a share, in the second quarter, down from $76m (€63.4m) in the year-ago period.
Quarterly sales rose 26% to $1.75bn (€1.5bn) from $1.39bn (€1.2bn) in the year-ago period. Analysts expected Amazon.com to earn 10 cents a share on sales of $1.7bn (€1.4bn).
