Amazon reported its Q4 2008 Earnings and the numbers are impressive. I am not sure why the Wallstreet is surprised as Amazon already reported in December that they had a record holiday shopping season. It was safe to assume that the whole quarter would be great and that sales increased quite a bit compared to last year.
Net sales increased 18% to $6.70 billion in the fourth quarter, compared with $5.67 billion in fourth quarter 2007.
Excluding the $320 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have even grown 24% compared with fourth quarter 2007. Operating cash flow was $1.70 billion in 2008, compared with $1.41 billion in 2007. Free cash flow increased 16% to $1.36 billion in 2008, compared with $1.18 billion in 2007.
Amazon is not stopping there. The online retailer even predicts that net sales would be growing between 9% and 19% compared with first quarter 2008. There is apparently no economic crisis in the Amazon.
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