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BEIJING, July 27, 2011 - (ACN Newswire) - According to the recent research of Chinabagsnet.com Amazon on Tuesday announced the financial report of the second quarter in 2011. Results, Amazon reported the second-quarter profit is $ 191 million, 41 cents per share, a decrease of 7.7%. Amazon's profit at the same period of last year was $ 207 million, 45 cents per share. Analysts predicted the profit of Amazon's second-quarter earnings were 35 cents per share.
Chinabagsnet.com reports that Amazon's second-quarter net income increased 51% to $ 9.91 billion. Excluding effects caused by exchange rate conversion, the growth rate is 44%. It was predicted in the April that Amazon's second-quarter revenue was 8.85 to 9.65 U.S. dollars. However the result is higher than analysts expected at that time.
Amazon's second-quarter gross margin increased from 24.5% at the same period of last year to 26.8%. Chinabagsnet.com points out that Amazon's second-quarter operating profit increased 54%. This is the highest growth rate of this year.
It is expected that Amazon's current third-quarter revenue will reach 10.3 to 11.1 billion U.S. dollars. According to the survey of Chinabagsnet.com, analysts on average forecast the third-quarter revenue of Amazon is $ 10.35 billion. Amazon also forecast the third-quarter operating profit will drop 93%.
Contact:
http://www.chinabagsnet.com/
Email: my@chinabagsnet.com
Topic: Press release summary
Source: Chinabagsnet.com
Sectors: Daily Finance, E-commerce
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From the Asia Corporate News Network
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