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Amazon Automated Belts On 60 Minutes...UPS Must Be Next
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<blockquote data-quote="Rico" data-source="post: 1232628" data-attributes="member: 45176"><p><span style="font-size: 22px"><strong>Amazon Stock May Be Up, but the Company Still Doesn’t Make Any Money</strong></span></p><p>That glowing new bestseller, that Friday stock bump, that rosy Christmas outlook—they can’t hide that after 20 years, the company still hasn’t managed to turn a profit. Daniel Gross on whether it ever will.</p><p>Amazon.com and Jeff Bezos, its founder and chief executive officer, are having a moment. They are the subject of a new, admiring bestselling book, <em><u>The Everything Store</u></em>, by Brad Stone. Bezos just plunked down $250 million to <u>buy <em>The Washington Post</em></u>.The buoyant stock, up 64 percent in the past year, got a nice jolt on Friday as investors were enthused about its third-quarter results: revenues were up 24 percent from a year ago, and Amazon issued a positive forecast for the Christmas season. The company is killing it in books and retailing goods, has a rapidly growing cloud storage and computing business, and is getting into original content and devices. It sports an impressive market capitalization of about $166 billion.</p><p>And yet.</p><p>The company, first founded in 1994, still doesn’t make any money. In the third quarter, it reported a $41 million net loss.</p><p></p><p><a href="http://www.thedailybeast.com/articles/2013/10/25/amazon-stock-may-be-up-but-the-company-still-doesn-t-make-any-money.html#url=/articles/2013/10/25/amazon-stock-may-be-up-but-the-company-still-doesn-t-make-any-money.html" target="_blank">http://www.thedailybeast.com/articles/2013/10/25/amazon-stock-may-be-up-but-the-company-still-doesn-t-make-any-money.html#url=/articles/2013/10/25/amazon-stock-may-be-up-but-the-company-still-doesn-t-make-any-money.html</a></p></blockquote><p></p>
[QUOTE="Rico, post: 1232628, member: 45176"] [SIZE=6][B]Amazon Stock May Be Up, but the Company Still Doesn’t Make Any Money[/B][/SIZE] That glowing new bestseller, that Friday stock bump, that rosy Christmas outlook—they can’t hide that after 20 years, the company still hasn’t managed to turn a profit. Daniel Gross on whether it ever will. Amazon.com and Jeff Bezos, its founder and chief executive officer, are having a moment. They are the subject of a new, admiring bestselling book, [I][U]The Everything Store[/U][/I], by Brad Stone. Bezos just plunked down $250 million to [U]buy [I]The Washington Post[/I][/U].The buoyant stock, up 64 percent in the past year, got a nice jolt on Friday as investors were enthused about its third-quarter results: revenues were up 24 percent from a year ago, and Amazon issued a positive forecast for the Christmas season. The company is killing it in books and retailing goods, has a rapidly growing cloud storage and computing business, and is getting into original content and devices. It sports an impressive market capitalization of about $166 billion. And yet. The company, first founded in 1994, still doesn’t make any money. In the third quarter, it reported a $41 million net loss. [url]http://www.thedailybeast.com/articles/2013/10/25/amazon-stock-may-be-up-but-the-company-still-doesn-t-make-any-money.html#url=/articles/2013/10/25/amazon-stock-may-be-up-but-the-company-still-doesn-t-make-any-money.html[/url] [/QUOTE]
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