(GuruFocus, October 22, 2009) Amazon.com reported quarterly results after the closing bell. Here are the highlights:
Operating cash flow was $2.25 billion for the trailing twelve months, compared with $1.27 billion for the trailing twelve months ended September 30, 2008. Free cash flow increased 98% to $1.92 billion for the trailing twelve months, compared with $0.97 billion for the trailing twelve months ended September 30, 2008.
Common shares outstanding plus shares underlying stock-based awards outstanding totaled 451 million on September 30, 2009, compared with 448 million a year ago.
Net sales increased 28% to $5.45 billion in the third quarter, compared with $4.26 billion in third quarter 2008. Excluding the $41 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 29% compared with third quarter 2008.
Operating income increased 62% to $251 million in the third quarter, compared with $154 million in third quarter 2008. Excluding the $10 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, operating income would have grown 69% compared with third quarter 2008.
Net income increased 68% to $199 million in the third quarter, or $0.45 per diluted share, compared with net income of $118 million, or $0.27 per diluted share, in third quarter 2008.
It is an amazing quarter. Watch the video from CNBC:
Guru Ownership
As of June 30, 2009, Amazon.com Inc. was owned by 6 Gurus.
1 Guru Increased Positions in AMZN:
Ron Baron owns 22,000 shares , an increase of 15.79% from the previous quarter. This position accounts for 0.02% of the $11.99 billion portfolio of Baron Funds.
2 Gurus Kept Positions in AMZN Unchanged or Slightly Adjusted:
PRIMECAP Management owns 4,126,300 shares , which accounts for 0.72% of the $48.26 billion portfolio of PRIMECAP Management.
Ken Heebner owns 2,780,000 shares , which accounts for 3.81% of the $6.11 billion portfolio of CAPITAL GROWTH MANAGEMENT LP.
3 Gurus Reduced Positions in AMZN:
John Hussman owns 1,500,000 shares , a decrease of 33.33% of from the previous quarter. This position accounts for 2.47% of the $5.08 billion portfolio of Hussman Economtrics Advisors, Inc..
John Griffin owns 1,925,000 shares , a decrease of 34.19% of from the previous quarter. This position accounts for 4.1% of the $3.93 billion portfolio of Blue Ridge Capital.
Chris Davis owns 2,859,018 shares , a decrease of 34.34% of from the previous quarter. This position accounts for 0.46% of the $51.82 billion portfolio of Davis Selected Advisers.
Insider Activities
Insiders have been mostly selling:
Sell:: Chairman, CEO and President, 10% Owner on 08/05/2009 Jeffrey P Bezos sold 2,000,000 shares of AMZN stock at the average price of 86.29, the price of the stock has increased by 8.26% since
Sell:: Chairman, CEO and President, 10% Owner on 05/04/2009 Jeffrey P Bezos sold 1,000,000 shares of AMZN stock at the average price of 79.06, the price of the stock has increased by 18.16% since
Sell:: Senior Vice President and CFO on 10/01/2009 Thomas J Szkutak sold 26,000 shares of AMZN stock at the average price of 91.52, the price of the stock has increased by 2.08% since
Sell:: Senior Vice President and CFO on 09/16/2009 Thomas J Szkutak sold 20,000 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
Sell:: Vice President on 09/24/2009 Shelley Reynolds sold 4,200 shares of AMZN stock at the average price of 92, the price of the stock has increased by 1.54% since
Sell:: Senior Vice President on 09/18/2009 H Brian Valentine sold 54,000 shares of AMZN stock at the average price of 90.38, the price of the stock has increased by 3.36% since
Sell:: Director on 09/16/2009 Tom A Alberg sold 2,222 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
Sell:: Senior Vice President on 09/16/2009 Andrew R Jassy sold 5,000 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
Sell:: Senior Vice President on 09/16/2009 Diego Piacentini sold 8,000 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
Operating cash flow was $2.25 billion for the trailing twelve months, compared with $1.27 billion for the trailing twelve months ended September 30, 2008. Free cash flow increased 98% to $1.92 billion for the trailing twelve months, compared with $0.97 billion for the trailing twelve months ended September 30, 2008.
Common shares outstanding plus shares underlying stock-based awards outstanding totaled 451 million on September 30, 2009, compared with 448 million a year ago.
Net sales increased 28% to $5.45 billion in the third quarter, compared with $4.26 billion in third quarter 2008. Excluding the $41 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 29% compared with third quarter 2008.
Operating income increased 62% to $251 million in the third quarter, compared with $154 million in third quarter 2008. Excluding the $10 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, operating income would have grown 69% compared with third quarter 2008.
Net income increased 68% to $199 million in the third quarter, or $0.45 per diluted share, compared with net income of $118 million, or $0.27 per diluted share, in third quarter 2008.
It is an amazing quarter. Watch the video from CNBC:
Guru Ownership
As of June 30, 2009, Amazon.com Inc. was owned by 6 Gurus.
1 Guru Increased Positions in AMZN:
Ron Baron owns 22,000 shares , an increase of 15.79% from the previous quarter. This position accounts for 0.02% of the $11.99 billion portfolio of Baron Funds.
2 Gurus Kept Positions in AMZN Unchanged or Slightly Adjusted:
PRIMECAP Management owns 4,126,300 shares , which accounts for 0.72% of the $48.26 billion portfolio of PRIMECAP Management.
Ken Heebner owns 2,780,000 shares , which accounts for 3.81% of the $6.11 billion portfolio of CAPITAL GROWTH MANAGEMENT LP.
3 Gurus Reduced Positions in AMZN:
John Hussman owns 1,500,000 shares , a decrease of 33.33% of from the previous quarter. This position accounts for 2.47% of the $5.08 billion portfolio of Hussman Economtrics Advisors, Inc..
John Griffin owns 1,925,000 shares , a decrease of 34.19% of from the previous quarter. This position accounts for 4.1% of the $3.93 billion portfolio of Blue Ridge Capital.
Chris Davis owns 2,859,018 shares , a decrease of 34.34% of from the previous quarter. This position accounts for 0.46% of the $51.82 billion portfolio of Davis Selected Advisers.
Insider Activities
Insiders have been mostly selling:
Sell:: Chairman, CEO and President, 10% Owner on 08/05/2009 Jeffrey P Bezos sold 2,000,000 shares of AMZN stock at the average price of 86.29, the price of the stock has increased by 8.26% since
Sell:: Chairman, CEO and President, 10% Owner on 05/04/2009 Jeffrey P Bezos sold 1,000,000 shares of AMZN stock at the average price of 79.06, the price of the stock has increased by 18.16% since
Sell:: Senior Vice President and CFO on 10/01/2009 Thomas J Szkutak sold 26,000 shares of AMZN stock at the average price of 91.52, the price of the stock has increased by 2.08% since
Sell:: Senior Vice President and CFO on 09/16/2009 Thomas J Szkutak sold 20,000 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
Sell:: Vice President on 09/24/2009 Shelley Reynolds sold 4,200 shares of AMZN stock at the average price of 92, the price of the stock has increased by 1.54% since
Sell:: Senior Vice President on 09/18/2009 H Brian Valentine sold 54,000 shares of AMZN stock at the average price of 90.38, the price of the stock has increased by 3.36% since
Sell:: Director on 09/16/2009 Tom A Alberg sold 2,222 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
Sell:: Senior Vice President on 09/16/2009 Andrew R Jassy sold 5,000 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
Sell:: Senior Vice President on 09/16/2009 Diego Piacentini sold 8,000 shares of AMZN stock at the average price of 90, the price of the stock has increased by 3.8% since
