Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Salomon Keeps 'Outperform' on Amazon


Salomon Smith Barney maintained its outperform rating on shares of Amazon.com (AMZN).

Analyst Tim Albright says the company preannounced strong Q1 results in a tough environment, with revenues of over $695 million, at the high end of expectations. He says gross profit of $175 million is ahead of his $139 million estimate and says Amazon indicated a 2001 operating loss of about $50 million, ahead of his $84.3 million loss estimate.

Albright has increased confidence in the company's ability to break even in Q4. He says cash balances exceed his expectation; and thinks the company is on the way to countering Chapter 11 arguments.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus