Wednesday, October 25, 2006

Amazon spanks revenues while crunching profits - Oops!

Amazon today smacked out a whacking 25% increase in quarterly revenues, but a depressing (if your an investor) 37% drop in profits.

But they promise they'll be good boys and gals going forwards and spend less on technology and new products/services like their all new video/music-one-day service Amazon Unbox.

Their shares popped up 11% proving how little faith investors have in Amazon's R&D efforts!

No comments: