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Tuesday, October 24, 2006

Amazon.com Up 12% After Report

Amazon.com (AMZN) has popped up more than 10% in an immediate reaction to beating earnings. AMZN posted EPS at $0.05 vs $0.03 estimate. and revenues were $2.31 Billion vs. estimates of $2.25 Billion. Net income was listed as $19 million.

The company repurchased 8 million shares in the quarters.

AMZN sees Fiscal Year sales $10.35-10.67 Billion, although the reaction is a feeling that they are being conservative. They also target fiscal earnings to be for Operating income between $339 million and $429 million.

The shares in after-hours activity are up some 12%, or over $4.00, and are trading at $37.75. It closed up 2.25% at $33.63 in normal trading today. It looks like we'll get to hear the Bezos laugh on all the media channels tomorrow.

Jon C. Ogg
October 24, 2006
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