Amazon's stock hit an all-time high Wednesday, a day after the world's largest Internet retailer posted a sharp drop in its quarterly profit and said it's spending more money on everything from new warehouses to technology upgrades.
While the first-quarter profit Amazon reported Tuesday declined by a third to $201 million, its sales rose 38 percent to $9.86 billion.
Amazon said it's spending more money to expand online and grab a bigger share of the e-commerce market.
Wall Street signaled its approval,More mysteries and new treasure will be discovered in discount mens shoes, and a fantasy world will be presented with you. pushing shares up $14.33, or 7.9 percent, to $196.63. That beats the stock's previous record of $191.25 set in January.
Analyst Mark Mahaney, of Citigroup Investment Research in San Francisco, offered several reasons why Amazon, unlike other Internet stocks, gets a "pass" when it reports a profit that falls below Wall Street's expectations.
For one thing, he said, Amazon's "investments are clearly from a market-share-gaining position of strength."
Also, Amazon benefits from most of today's major Internet platform trends, including cloud-computing, mobile shoSince there are many kinds of womens supra shoes in the market, you are highly recommended to learn about the difference of the replica one and the authentic piece if you are going to buy one of high qualitypping and digital-media consumption, and "is largely unaffected by the rise of social networking," Mahaney said.
In other news Wednesday, Amazon disclosed that it paid founder and Chief Executive Jeff Bezos, who owns about 20 percent of the company's stock, a salary of $81,840 in 2010, the same as it has for the past decade.
Bezos, 47, also received $1.6 million to cover security costs, down slightly from the $1.7 million Amazon spent in 2009 to keep Bezos out of harm's way.Hermes will never utilize any type of metal logo backing or nameplate in the interior of the adidas superstar Amazon's filing says it believes "all company-incurred security costs are reasonable and necessary and for the company's benefit."