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Amazon.com exceeds Q3 expectations

Amazon.com exceeds Q3 expectations

Amazon.com did better than expected during its third quarter, helped by strong sales across the six country-specific Web sites it operates.

Net revenue for the quarter ended September 30 came in at $US1.13 billion and pro forma earnings per share were $US0.11 per share, on pro forma net income of $US48 million. That topped consensus expectations from analysts polled by Thomson First Call of $US1.12 billion in net revenue and $US0.10 in pro forma earnings per share.

Compared with 2002's third quarter, net revenue grew 33 per cent. The company reported break-even pro forma earnings per share and net income in 2002's third quarter.

The pro forma results exclude items such as stock-based compensation, amortisation of intangibles and restructuring-related charges. Actual earnings per share according to generally accepted accounting principles (GAAP) were $US0.04 on net income of $US16 million, compared with a GAAP net loss of $US0.09 per share, or $US35 million, in 2002's third quarter.

Compared to the same quarter a year earlier, sales from Amazon.com's US and Canada sites grew a combined 21 per cent to $US709 million. Sales from the company's UK, German, French and Japanese sites grew a combined 61 per cent to $US425 million.


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