Amazon reported late Thursday that its Q2 net income had dropped an astounding 96 percent, but the market didn’t seem to mind. Its stock jumped nearly 8 percent in Friday trading — never mind the fact that it posted a net income of $7 million compared to $191 million in the second quarter of 2011. The picture these numbers paint is of a company that is barely making money, said Andreas Scherer, managing partner at Salto Partners.
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Amazon Investors Sanguine Despite Plummeting Profits
Posted by: Erika Morphy July 27, 2012 03:39 PMAmazon reported late Thursday that its Q2 net income had dropped an astounding 96 percent, but the market didn’t seem to mind. Its stock jumped nearly 8 percent in Friday trading — never mind the fact that it posted a net income of $7 million compared to $191 million in the second quarter of 2011. The picture these numbers paint is of a company that is barely making money, said Andreas Scherer, managing partner at Salto Partners.