Amazon.com Forecast Misses Estimates After Spending Growth
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Amazon.com Inc., the world’s largest online retailer, forecast lower second-quarter operating profit than analysts predicted as it builds warehouses and promotes its Kindle electronic-book reader.
Operating income, which excludes taxes and interest, will be $95 million to $245 million this quarter, the Seattle-based company said today in a statement. Analysts surveyed by Bloomberg expected, on average, operating income of $369.5 million.