Amazon Trims Losses on Higher Sales

Share this article:
Amazon.com yesterday reported a net loss of $23 million, or 6 cents per share, for the first quarter of 2002, compared with a net loss of $234 million, or 66 cents per share, for the same quarter a year ago.


Wall Street reportedly expected the online retailer to lose 7 to 12 cents per share.


Net sales for first-quarter 2002, which ended March 21, were $847 million, up 21 percent from $700 million in the same quarter in 2001. Amazon reported that it also lowered costs.


The company also reported a first-quarter operating profit of $2 million, reportedly a first for the company in a seasonally slow first quarter.


In the fourth quarter, Amazon.com, Seattle, reported its first profit, on both pro forma and generally accepted accounting principles, or GAAP, basis.


That wasn't expected to be the case for the latest quarter, which didn't have the benefit of holiday purchases.


Also yesterday, Amazon said it has lowered prices on some books. The company now offers a 30 percent discount on books over $15. The company previously offered that discount on books over $20.


Amazon predicted that net sales for the second quarter will be $765 million to $815 million, or grow 15 percent to 22 percent.


The company announced its first-quarter financial results after the market closed.


Share this article:
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

News Byte: CX Scores to Take Their Place Beside Price Listings

News Byte: CX Scores to Take Their Place ...

E-commerce aggregator PriceGrabber will begin offsetting price info with service expectations.

Data Byte: Interactive Ad Revenues Exceeding TV for the First Time

Data Byte: Interactive Ad Revenues Exceeding TV for ...

At nearly $43 billion, interactive advertising revenues exceeded broadcast for the first time in 2013.

Marketers: Data Rich and Knowledge Poor

Marketers: Data Rich and Knowledge Poor

While advertisers have become incredibly data-savvy, the most difficult challenge remains causally linking that data to outcomes that really matter.