Amazon!

Tuesday, January 27, 2004
Posted in category Uncategorized
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I can’t link to this article for everyone, because it’s in the WSJ paid edition. But here’s a snippet:

Amazon.com Inc. hit a milestone many skeptics several years ago would have called unattainable: a full-year profit.

The results emphasize the extent to which Seattle-based Amazon, once the embodiment of the dot-com ethos of growth without heed for profit, has transformed itself into one of the most powerful survivors on the Internet, along with Yahoo Inc. and eBay Inc.

Through an aggressive cost-cutting campaign during the past three years, Amazon has steadily improved its bottom line while restarting sales growth with a free-shipping offer that has proved popular with customers. The Internet retailer also has benefited from increased consumer acceptance of online shopping, which helped boost holiday Internet sales last year by 30% to $12.5 billion, according to estimates from comScore Networks Inc.

A company that I truly *love*, yes, but yet it’s another high growth-horrid business model company that teeters on the edge of decapitation because of its financial structures. But it made money! Hooray! What a concept.

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