Topic: Technology
We apologize for reporting so much financial news in the recent days, but the second quarter numbers for some of America's largest companies are astounding. Yahoo! lost $10.4 billion in a day, shortly before Ford dropped $123 million. Then McDonald's comes back today with a massive increase, and now Internet sales juggernaut Amazon.com has announced a 58 percent drop in earnings, leading to a 9 percent falloff in trading.
But all is not bad, as the company says this revenue drop was due to an increase in investing in technology and shipping resources, and this is confirmed by a 22 percent increase in sales, meaning that the company is spending money to make money. We still are a bit pessimistic, as this is a massive drop to incur due to shipping investments, as we all know from the TV commercials that if they were to simply open an account with FedEx.com they could save 15 percent on shipping. Extra hand gestures not included.
