Amazon Q1 Sales Beat Expectations, Company Ups 2006 Forecasts

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Amazon Q1 Sales Beat Expectations, Company Ups 2006 Forecasts

04-26-2006, 11:58 AM,

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mandy Offline

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Amazon Q1 Sales Beat Expectations, Company Ups 2006 Forecasts

Quote:Shares of Amazon.com Inc., the world's largest online retailer, may rise after the company increased forecasts for the year and said spending may slow in the second half.

Sales may rise to $10.5 billion and profit excluding items may increase to $520 million in 2006, Seattle-based Amazon.com said yesterday after U.S. markets closed. The forecasts exceeded the company's earlier estimates.

Quote: New Challenges

EBay is winning shoppers with new listings, and Google is benefiting from a surge in online advertising and luring merchants who are buying ads linked to search results. It's also seeing competition from retailers including Wal-Mart Stores Inc.

Quote: Sales of media items, including DVDs, books and music, probably comprise 72 percent of revenue, Piper Jaffray's Rashtchy said. Book sales alone comprise 40 percent of revenue, he estimates.

full article: http://quote.bloomberg.com/apps/news?pid=10000103&sid=azQBjYMzGobM&refer=news_index

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