Wake the kids and phone the neighbors, everyone’s favorite e-tailer, Amazon has gone and done what everyone said would never happen — they turned a profit! The kicker to this all is that they didn’t need any creative accounting to make it happen. According to stories at CNN Money and News.com, Amazon reported net income of $5 million, or a penny a share, under generally accepted accounting principles (a.k.a. GAAP). Looks like buying books, CD’s, movies, toys, cars, lawn furniture and the like online is here to stay.
Tags: -Not Sorted-