Amazon's Results Illustrate What the Long Game Looks Like
Anticipation was high going into e-commerce leader Amazon.com's (NASDAQ: AMZN) financial report. The stock was up a remarkable 40% this year alone and had crested the psychological barrier of $1,000 per share. The third annual Prime Day was on the books, having been a resounding success, and investors likely expected the company to continue its recent performance by trouncing expectations.
Amazon continued to march to the beat of a different drummer, however. While its revenue came in higher than forecast, the company posted profits that were significantly lower than anticipated leaving some investors scrambling for answers. The culprit? Amazon continues to invest in the future while being less concerned with the quarterly concerns of the market and short-thinking investors. Here's a look at what happened and why it doesn't matter.
Amazon continued its winning ways in e-commerce. Image source: Getty Images.
Source: Fool.com
Amazon.com Inc. Stock
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