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Last Updated: Friday, 23 July, 2004, 07:39 GMT 08:39 UK
Amazon's profits below the mark
Investors were hoping for a bit more from Amazon
Shares in Amazon fell during after-hours trading in New York on Thursday after the online retailer's latest profits came in below market forecasts.

Amazon's stock lost 4.6% after it reported second-quarter net profits of $76.5m (41.5m), or 18 cents a share, just below the predicted 19-cent level.

This was despite the $76.5m figure comparing to a loss of $43.3m in the same three month period last year.

Amazon saw total sales rise 26% to $1.39bn, in line with its targets.

The jump in sales was assisted by price discounts and free shipping incentives.

"While free shipping is expensive for the company, it saves our customers tens of millions of dollars each quarter, and we plan to keep it in place indefinitely," Amazon chief executive Jeff Bezos said.

Outside the US, Amazon saw sales grow 50% to $595m.

Robin Terrell, managing director

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