Apr 25, 2003 (12:04 PM EDT)
Amazon Predicts A $4.7B Year
Read the Original Article at InformationWeek
Amazon.com Inc. ended its first quarter outside the holiday season with more than $1 billion in sales.
The Web retailer lost $10 million on $1.1 billion in sales for the quarter ended March 31. The company made $39 million on an operating basis, but interest on its $2.3 billion in debt and some noncash expenses swallowed those gains.
Amazon predicts its strategy of cutting costs so it can lower prices will let it keep the $1 billion-plus sales pace in the second quarter and reach at least $4.7 billion for the year, which would be 19% growth over last year.