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July 26, 2011By Michael Cader

Amazon’s Meager Profit Is Still Better than Expected

July 26, 2011By Michael Cader

Amazon’s profits are still declining even as the company post big gains in sales–but the second-quarter drop in profits was not as bad as Wall Street was expecting, so that counts as bullish news for investors (who now value the company at a more than 90 times its earnings). Sales increased 51% to $9.91 billion, about $500 million of that gain attributed to favorable foreign exchange; net income was $191 million or 41 cents a share, down from $207 million a year ago (on much smaller sales). But analysts were expecting only 34 cents a share on sales of under […]

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Filed Under: Booksellers, Bookstores, Earnings Reports

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