Our buds at Amazon show a quarterly profit for the second time:
- Amazon’s performance, and the rebound in its stock price since last summer, might surprise those who assumed Internet companies were better left for dead after the dot-com implosion. But analysts say Amazon and a core group of Internet companies, including eBay Inc., Expedia Inc. and Yahoo Inc., have built what look like workable long-term businesses for the Internet era.
“We’ve seen the worst of the shakeout” of companies that were long on hype and short on profit, said stock analyst David Kathman, who follows Amazon and eBay for Morningstar Inc. in Chicago. “Now there are some behemoths starting to emerge.” [Washington Post]
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