Amazon Investors Sanguine Despite Plummeting Profits

Amazon reported late Thursday that its Q2 net income had dropped an astounding 96 percent, but the market didn’t seem to mind. Its stock jumped nearly 8 percent in Friday trading — never mind the fact that it posted a net income of $7 million compared to $191 million in the second quarter of 2011. The picture these numbers paint is of a company that is barely making money, said Andreas Scherer, managing partner at Salto Partners.

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