meets tiny 2Q profit expectations

Online retailer is reporting second-quarter earnings that match Wall Street's small expectations, but its revenue gains have fallen short of forecasts.


Net income in the three months to June 30 came to just $7 million, or a penny per share, a drop of 96 percent from $191 million, or 41 cents, a year ago.


Meets tiny 2Q profit expectations



That matched expectations of analysts polled by FactSet, although Inc. says its profit was hurt by a $65 million loss related to its acquisition of Kiva Systems Inc.


Revenue grew 29 percent to $12.83 billion, short of the $12.90 billion expected by analysts.


However, said Thursday that revenue was negatively impacted by currency movements to the tune of $272 million.


Shares fell 1.7 percent to $216.38 in after-hours trading.


Associated Press

Published Date: Jul 27, 2012 11:31 am | Updated Date: Jul 27, 2012 11:31 am