Amazon (AMZN) Miss Due to Higher Costs
July 23, 2010 at 09:55 AM EDT
Amazon.com (AMZN) first quarter earnings missed the Zacks Consensus Estimate by 10 cents, or 17.9%. We attribute the miss to higher expenses, since revenue was in line with the Zacks Consensus, beating by 0.1%. Management mentioned a number of initiatives that increased expenses in the last quarter. These included additional fulfillment centers, increased technology spending and [...]