Business Services Industry
Positive Earnings Forecast Boosts Amazon.com's Stock.
Knight Ridder/Tribune Business News, April, 2001
By Sam Ali, The Star-Ledger, Newark, N.J. Knight Ridder/Tribune Business News
Apr. 10--Amazon.com Inc. popped 34 percent yesterday after the online retailing bellwether issued a rare positive earnings forecast -- a breath of fresh air following a season of disappointing corporate numbers and missed earnings expectations.
But even as investors drove Amazon's stock price up $2.81, or more than 33 percent, to $11.18, analysts who follow the company weren't nearly as excited.
That Amazon said its first quarter revenue would be better than expected and its loss would narrow due to strong sales in its electronics and international divisions is good news. The company, after all, has never turned a profit. But overall, the report from Chairman...
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