- Defying the grim global economy, Amazon.com reported a terrific fourth quarter, with profit up 9 per cent and sales up 18 per cent. The online retailer attracted customers with low prices and free shipping, and continues to benefit from the buzz surrounding its Kindle e-reader, the second version of which is expected on February 9. Amazon shares were up 13 per cent in after hours trading.
- Other tech companies were not so lucky. Sony and Toshiba both reported losses, as the slowdown in consumer spending continues to hit the electronics industry particularly hard. Even Nintendo, recently buoyed by strong sales of the Wii, has the jitters. It cut its full year profit forecast by 33 per cent as a strong yen looks set to erode earnings.
© The Financial Times Ltd 2014 FT and 'Financial Times' are trademarks of The Financial Times Ltd.