Like most internet companies, Amazon spent most of its early years losing money. But the size of its customer base and the health of its revenue stream inspired confidence in the financial community, and in the last quarter of 2001 the company posted its first ever operating profit, albeit a small one.
More encouraging results in 2002 have helped renew faith in Amazon’s prospects, with growth of 76% in its international markets in the last quarter of 2002. It now has well over 30m customers and annual revenues were nearly $4 billion in 2002.
\In common with other dotcom businesses, Amazon’s stock market value dropped by over 80% in one year, with the share price plunging to less than $6 in September 2001 from a high of $221 in 1999. But its stock price remained relatively stable in 2002 and the future looks promising.
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