Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, October 23, 2009

Article Excerpt

AMAZON.COM INC., $118.49, symbol AMZN on Nasdaq, shot up 26.8% today after reporting sharply higher results in the latest quarter. In the three months ended September 30, 2009, Amazon’s revenue rose 27.8%, to $5.4 billion from $4.3 billion a year earlier. Earnings jumped 68.6%, to $199 million, or $0.46 a share, from $118 million, or $0.28 a share. That beat the $0.33 a share that analysts were expecting. Amazon’s North American media revenue rose 13% during the quarter. Overall media sales climbed 17%, to $2.9 billion. Revenue from electronics and other general merchandise jumped 44% to $2.4 billion. Revenue in the company’s “other” category, which includes Amazon’s web-services business, rose 25%, to $163 million. The company accounts for sales of its Kindle electronic-book reader in its electronics and general merchandise segment. It includes sales of Kindle books and other content in media sales. The Kindle has become the company’s bestselling item, both in unit and dollar sales. However, it will likely face…

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