Amazon Shares Leap 19% After Loss Betters Forecasts

25 April 2002, the globe’s largest etailer, confounded critics on Tuesday with a 19% increase in Q1 revenues and a loss comfortably below analysts’ predictions.

With a first quarter net loss of $23.2 million (€25.95m; £15.99m), or 6 cents a share, the etail giant bettered Wall Street’s consensus estimates of a 9 cents a share loss. The result compares dramatically with last year’s loss for the same quarter of $234.1m (66 cents a share).

Revenue increased year-on-year by 21% from $700.4m to $847.4m – above the entrail-rakers consensus guess of about $804m.

Says chief financial officer Warren Jenson: “We are ahead of schedule financially. Our continued operational progress and momentum allow us to further lower prices for customers and at the same time increase our 2002 guidance.”

Data sourced from: Financial Times; additional content by WARC staff