Amazon.com finally makes a profit Posted by Scott Manning on January 22, 2002 | Comments (0)

In a fourth quarter marked by strong international sales and cost cutting, Amazon.com on Tuesday reported its first-ever profit, on record sales, delivering on its promises to Wall Street.

Amazon reported net income of $5 million, or a penny a share, under generally accepted accounting principles, well ahead of analysts' expectations. Most analysts had predicted that the company would report a profit on a pro forma basis, which excludes a host of expenses and charges. Fourth-quarter sales were $1.12 billion, compared with $972 million a year ago. Full Story...