Amazon Announces Sharp Drop in Profits -- Finspreads LONDON -- (Marketwire) -- 01/30/13 -- Finspreads: Online retail giant Amazon has announced a sharp fall in profits in its latest quarterly figures. Net income for the last three months of 2012 stood at $97 million (GBP 61.5 million), a sharp drop compared to the $177 million figure notched up during the same period in 2011. The retreat in profits came despite an increase in revenue, which was up 22 per cent from $17.43 billion to $21.27 billion. Jeff Bezos, founder and chief executive, says the figures are a cause for optimism. He said: "We're now seeing the transition we've been expecting. "After five years, e-books is a multi-billion dollar category for us and growing fast -- up approximately 70 per cent last year." Amazon's shares on the Nasdaq slipped during trading yesterday January (29th), falling by 5.68 per cent. But investors seemed to show more faith in the company during after-hours trading, with Amazon's shares shooting up by 8.91 per cent. Some analysts have attributed the company's rise after the bell to its 56 per cent increase in operating revenue, which some claim has increased the level of confidence amongst investors. Learn about the markets and find spread betting tips at Finspreads. About Finspreads: Our financial Advantage Web online trading platform and iPhone App have been designed to offer maximum stability and security, so you can take advantage of fast moving market prices and enjoy trading flexibility even when you're on the move. Advantage Web has been designed specifically with you in mind, offering new trading tools and usability features so you can get the most out of the markets. But what are the key benefits of Advantage Web as compared to the old online trading platform? The Finspreads App for iPhone and iPod touch is our highly intuitive trading App that is designed to help you access your spread betting account no matter where you are and at any time of the day. Your losses are magnified in exactly the same way as your gains if the market moves against you and can result in losses exceeding your initial outlay. Please ensure you fully understand the risks involved. Contact: Joshua Raymond Finspreads +44(0)20-7107-7002 firstname.lastname@example.org
Amazon Announces Sharp Drop in Profits -- Finspreads
Press spacebar to pause and continue. Press esc to stop.