Good God! Amazon making profits!!!!
I always thought that Amazon was a work of genius (and indeed it has already parted me from a significant amount of my money), but somehow I never expected it to become like a normal company. Yet the NYT is saying that Amazon “yesterday reported its first profit outside of the fourth quarter, which includes the holiday season, as its strategy to reignite growth with lower prices continues to pay off. Amazon, which some investors wrote off as being on the brink of insolvency a few years ago, is now generating cash at a steady clip. Its low prices and increasing selection of goods from other merchants have accelerated its growth in North America. Its sales are still growing rapidly in Europe and Japan, but the pace of growth is slowing overseas, largely as a result of increased price-cutting and offers of free shipping in many countries.”