Daily Business News
Tuesday, October 24, 2006
  Amazon profit beats expectations (Reuters)

Amazon.com Chairman and CEO Jeff Bezos in a file photo. The company on Tuesday reported sharply lower third-quarter net income as higher spending on technology and a patent litigation settlement squeezed profits at the Web retailer. (Anthony P. Bolante/Reuters)Reuters - Amazon.com on Tuesday posted third-quarter profit and revenue ahead of Wall Street expectations as the Web retailer slowed the growth of its technology spending and its shares rose 12 percent.


 
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