February 3, 2005

Amazon suffers lack in market confidence

by brian_turner

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.

Story link: Amazon suffers lack in market confidence

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