Menu
23/01/2002
Amazon.com reports profit for the first time
Online bookstore Amazon.com has revealed its first-ever net profit, surpassing even the most optimistic forecasts from analysts.
The company’s fourth quarter results showed the internet retailer made $5 million net for the period – compared with a loss of $545 million only one year earlier. The result even surpassed the prediction of Amazon’s chief executive and founder Jeff Bezos, who had insisted that the fourth quarter would see the firm at least break even on a pro forma basis.
However, extremely good sales over the Christmas period helped Amazon achieve a 20 per cent increase in activity at a time when most US retailers were failing to match their 2001 sales figures.
While Amazon has, up until now, failed to show a profit in the six years since its launch in 1995, the company’s results are being hailed as proof of the workability of Amazon’s business model – and as proof that e-commerce can lead to sustainable success.
It is thought that the key to Amazon’s success lies in the strength of its brand identity, and the company’s decision to diversify into markets beyond the sale of books, via a series of strategic partnerships with other firms who agree to the sale of their goods through the Amazon site. (CL)
The company’s fourth quarter results showed the internet retailer made $5 million net for the period – compared with a loss of $545 million only one year earlier. The result even surpassed the prediction of Amazon’s chief executive and founder Jeff Bezos, who had insisted that the fourth quarter would see the firm at least break even on a pro forma basis.
However, extremely good sales over the Christmas period helped Amazon achieve a 20 per cent increase in activity at a time when most US retailers were failing to match their 2001 sales figures.
While Amazon has, up until now, failed to show a profit in the six years since its launch in 1995, the company’s results are being hailed as proof of the workability of Amazon’s business model – and as proof that e-commerce can lead to sustainable success.
It is thought that the key to Amazon’s success lies in the strength of its brand identity, and the company’s decision to diversify into markets beyond the sale of books, via a series of strategic partnerships with other firms who agree to the sale of their goods through the Amazon site. (CL)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
20 August 2019
NI Sights Showcased To Global Travel Brands
Local tourism, hospitality and entertainment facilities are being showcased to sales teams from across the globe this week as The Travel Corporation (TTC) brings its conference to Belfast.
NI Sights Showcased To Global Travel Brands
Local tourism, hospitality and entertainment facilities are being showcased to sales teams from across the globe this week as The Travel Corporation (TTC) brings its conference to Belfast.
23 July 2014
AES Achieves Rapid Sales Growth
Cookstown electronics company Advanced Electronic Solutions (AES) Distribution NI Ltd has achieved rapid sales growth and export success with support from Invest Northern Ireland. The Cookstown firm designs and manufactures the largest range of wireless and GSM intercom systems in the world, based on its innovative wireless technology.
AES Achieves Rapid Sales Growth
Cookstown electronics company Advanced Electronic Solutions (AES) Distribution NI Ltd has achieved rapid sales growth and export success with support from Invest Northern Ireland. The Cookstown firm designs and manufactures the largest range of wireless and GSM intercom systems in the world, based on its innovative wireless technology.
24 June 2014
Firms Take Advantage Of New Sales Opportunities
Businesses are to take advantage of new sales opportunities within the public sector after completing the Smarter Procurement Programme.
Firms Take Advantage Of New Sales Opportunities
Businesses are to take advantage of new sales opportunities within the public sector after completing the Smarter Procurement Programme.
24 April 2012
Belfast Software Firm Secures Export Contract
Belfast-based Sysco Software Solutions has secured business in the Republic of Ireland worth over £500,000 with support from Invest Northern Ireland. This success follows the company's investment last year towards the research, development and marketing of a new software application for the emerging cloud services sector.
Belfast Software Firm Secures Export Contract
Belfast-based Sysco Software Solutions has secured business in the Republic of Ireland worth over £500,000 with support from Invest Northern Ireland. This success follows the company's investment last year towards the research, development and marketing of a new software application for the emerging cloud services sector.
14 April 2011
Sub Contractors Urged To 'Think Big'
Belfast City Council has launched a new programme targeting building sub-contractors who have shied away from pursuing opportunities with major contractors on large-scale construction schemes and other regeneration projects.
Sub Contractors Urged To 'Think Big'
Belfast City Council has launched a new programme targeting building sub-contractors who have shied away from pursuing opportunities with major contractors on large-scale construction schemes and other regeneration projects.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
