TheStreet.com’s Marek Fuchs noted that coverage of Amazon.com’s earnings this week left something to be desired, as well-respected publications such as USA Today and the Wall Street Journal had different interpretations of what the numbers meant.
“USA Today highlighted the fact that Amazon’s net earnings plunged in its lead, then added that the fact that this still outpaced analysts’ anemic estimates drove the stock up 14% in after-hours trading.
“Revenue, too, it was soon added, beat expectations by a whisker, ‘consequently, Amazon shares shot up $4.72…’
“USA Today didn’t bother to mention what was probably the biggest short-term positive and long-term negative of the day: that Amazon will (finally) slow its rate of investment in new products.
“The Wall Street Journal hit on this essential factor in its subheadline and second sentence, giving it the credit it was due for the short-term movement of the stock price — far more credit that their thimble-sized beats of expectations deserved.”
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