An Upside Surprise From Amazon.com
Posted by: Rob Hof on October 24, 2006
After shocking investors in the second quarter with disappointing earnings, Amazon.com turned the tables today with a surprisingly positive third quarter. Clearly, it’s still spending a lot on new technologies and on free shipping, and it’s unclear when those will pay off. But investors seem pleased that Amazon generally upped its forward guidance, if only a tad. The stock’s up 14% after-hours.
Here’s my take on the quarter.