Amazon’s Q2 was just what Wall Street was expecting–which in Wall Street’s perverse logic means that Wall Street will be disappointed. Amazon delivered net sales of $4.65 billion and earnings of 32 cents per share; consensus called for $4.67 billion and 32 cents. Jeff Bezos might have been able to allay investors’ worries, but he was a no-show for the conference call.
There are plenty of people–from Google on down–waiting for marketers to start shoveling money into phone advertising. But it’s not going to happen in the next few years, as advertisers stick to markets they already understand.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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