Amazon has lower profits, shares drop

Posted on Thursday, February 02 2006 @ 23:22 CET by Thomas De Maesschalck

Earlier this week Google's stock took a fairly big hit because their profit was less than what Wall Street analysts expected and today Amazon's shares started too slide too.

The company reported sales of $2.98 billion, while Wall Street expected $3.08 billion sales.

Amazon's net profit was less than last year, and because of these bad results the AMZN shares have slid from $42.74 at NASDAQ close to $39.25 in after-hours trading at press time.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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