Toys R Us settlement dents Amazon?s Q2 profit - ToyNews

Toys R Us settlement dents Amazon?s Q2 profit reported Q2 earnings fell while sales rose, as it recorded a $51 million payment to Toys R Us.
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Amazon earned $142 million, or 32 cents per share, in the April-June quarter, ten per cent lower than the profit of $158 million, or 37 cents per share, in 2008.

Sales climbed nearly 15 per cent to $4.65 billion. Sales of books, CDs and DVDs inched up 1 per cent, while electronics and other general merchandise sales soared 35 per cent.

The company's North American sales rose 13 per cent, while international sales increased 16 per cent.

In June Amazon agreed to pay $51 million to Toys R Us to end a dispute that began in 2004. The company is making the payment in the current quarter but charged it to operating expenses in the just-reported second quarter.


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