Discussion in 'Stocks' started by krazykarl, Jul 23, 2008.
Any thoughts on where this rabbit came from?
Bezos's ass probably.
When you think it will miss, it beats
When you think it will beat, it misses...
Wow, I had a short on this around $69.30 then got chicken and closed it today...
Ran up to around $77 in AH, and now it's gone down to around $69.... obviously the market is mixed up on this puppy, something in forward guidance maybe? (haven't read the releases other than the quick earnings)
Rumor is some sort of one-time gain of $55 mil is inflating the numbers. Can't find any info inthe press releases, though.
Just found it...
Amazon.com 2Q Net Doubles On Gain; Co Boosts 2008 Sales View
4:24pm ET (Dow Jones Newswires)
DOW JONES NEWSWIRES
Amazon.com Inc.'s (AMZN) second-quarter net income doubled, as the company recorded strong sales growth and a gain on the sale of its European DVD rental assets.
The company also raised its sales guidance for 2008 and issued third-quarter sales guidance that mostly exceeded analyst views.
However, in after-hours trading, shares of Amazon were down $1.54, or 2.2%, to $69, after a 3.8% gain during the regular session.
The online retail giant reported net income of $158 million, or 37 cents a share, compared with $78 million, or 19 cents a share, a year earlier. The latest quarter included a $53 million pretax gain on the sale of the European DVD rental assets.
Net sales rose 41% to $4.06 billion.
The mean per-share earnings estimate of analysts polled by Thomson Reuters was 26 cents on net sales of $3.96 billion. Analyst earnings estimates typically exclude unusual items. In April, the company said it expected net sales of $3.88 billion to $4.08 billion.
Gross margin, which has been a worry to analysts, narrowed slightly to 23.8% from 24.2%.
Second-quarter international sales rose 47% to $1.89 billion. Without the impact of the weak dollar, overseas revenue grew 34%.
Looking forward, the company expects third-quarter net sales to rise 29% to 36% to a range of $4.2 billion to $4.43 billion, compared with Wall Street's estimate of $4.23 billion. Operating income is expected to be $115 million to $160 million, down 6% to up 31%.
For the year, the company expects net sales to rise 30% to 35% to a range of $19.35 billion to $20.1 billion. Operating income is seen rising 14% to 40% to between $745 million and $920 million.
In April, Amazon raised its 2008 net sales forecast to a range of $19.1 billion to $20 billion, up 29% to 35%. Analysts expect revenue to rise 32% to $19.6 billion.
Though Amazon has posted strong results over the past year, analysts continue to watch for signs of strain as the U.S. teeters on the edge of a recession.
-By Jay Miller, Dow Jones Newswires; 201-938-2331; email@example.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=jYOm+39C6XAUTp7LlqNtgw==. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
Copyright (c) 2008 Dow Jones & Company, Inc.
none of these idiots trading knows what they are doing. imbeciles.
or else its pure tape painting by one of those funds everyone thinks makes their money by skill.
Apparently, this site's going to update when they figure out how much the $53 million sale of their European DVD rental unit affected Amazon's income this quarter:
I'm on a few other family oriented message boards and a big topic of discussion is always ways to cut household spending. People are always suggesting using the Amazon Prime (pay $25 for the year and then shipping is free for things) instead of driving around to places to shop. I think Amazon is benefitting from the high price of gas.
8 point range on that?
now up 5 from the lows. yeah, these guys know what they are doing.
Glad you had that bounce.
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