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Amazon.com 1Q Net Off 35% On Spending Bite

DOW JONES NEWSWIRES Amazon.com Inc.'s (AMZN) first-quarter profit fell 35% as the online retailer's heavy spending continued to weigh down the bottom line. The No. 1 Internet retailer by sales also warned for the third time in as many quarters that it could post an operating loss in the current period, predicting a profit of $40 million to a loss of $260 million. It estimated net sales between $11.9 billion and $13.3 billion, bracketing analysts' average $12.82 billion estimate, according to a poll by Thomson Reuters. Shares surged 9.2% to $214 after hours as the bottom-line result easily topped analysts' cautious expectations. The stock was up 13% this year through Thursday's close. Amazon's bottom line has sagged over the past year as the online retailer continues to invest heavily in a wide range of projects aimed at making its name more ubiquitous in areas ranging from online TV to the industrial supply business. The company has also spent money on efforts to make its operations more efficient, as demonstrated by the company's $775 million acquisition of robot maker Kiva Systems Inc. unveiled last month. The online shopping giant says heavy investment will drive greater profitability in the long run--Kiva's robots make its distribution network more efficient, for instance--though the spending spree has taxed investors' patience. In the latest period, Amazon posted a profit of $130 million, or 28 cents a share, down from $201 million, or 44 cents a share, a year earlier. Analysts were expecting a 7-cent per-share profit. Net sales rose 34% to $13.19 billion, in line with the company's cautious January guidance, which called for $12 billion to $13.4 billion in sales. Gross margin widened to 24% from 22.8%. Operating expenses jumped 36% in the latest quarter, again outstripping revenue growth. Operating earnings fell 41% to $192 million. The company in January said its operating bottom line could range from a $200 million loss to a $100 million profit. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Netflix (NFLX)
DateTimeHeadline
09/18/201418:44:45TECH STOCKS: Apple, Amazon Lead Broad Tech Gains
09/16/201400:51:26TECH STOCKS: Tech Stocks Fall; Microsoft Among Decliners
09/16/201400:49:59MARKET SNAPSHOT: U.S. Stocks End Lower; Tech And Small-caps Lead...
09/16/201400:38:07MARKET SNAPSHOT: U.S. Stocks Fall As Nasdaq Sinks Nearly 1%
09/16/201400:23:51MARKET SNAPSHOT: U.S. Stocks Open Lower; Yahoo Rises
09/15/201419:54:26MARKET SNAPSHOT: U.S. Stocks: Futures Flat As Investors Wait...
09/15/201409:44:04MARKET SNAPSHOT: U.S. Stocks: Futures Nudge Lower As Investors...
09/12/201416:40:35TECH STOCKS: Apple, EBay Gains Can't Blunt Other Tech Losses
09/11/201421:30:23Brett Icahn Drops Plan to Start Hedge-Fund Firm
09/11/201411:53:21TECH STOCKS: JDSU, Pandora Buck Tech's Weak Performance
09/07/201406:17:43MARKET SNAPSHOT: Stock-picking Gains Traction As Volatility Looms
08/28/201414:13:56TECH STOCKS: Tech Stocks Retreat Amid Market's Ukraine Fears
08/27/201417:46:22TECH STOCKS: Facebook Leads Tech Stocks Lower
08/22/201416:27:06TECH STOCKS: Salesforce, GameStop Lead Tech Stocks
08/18/201416:54:38TECH STOCKS: Apple, Netflix Help Tech Stocks Start Week With...
08/18/201412:03:10TECH STOCKS: Apple, Netflix Among Tech Stocks On The Rise
08/14/201418:40:19Icahn Discloses New Stake in Gannett
08/11/201417:10:47TECH STOCKS: Priceline Among Gainers As Tech Stocks Rally
08/08/201416:35:08TECH STOCKS: Nvidia's Gains Stand Out Among Tech Stocks
08/07/201417:20:32TECH STOCKS: Tech Sector Ends Day In The Red

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