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.

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