PW Daily reports a “strong quarter for Amazon Media,” noting specifically that thanks in large part to about 1.6 million copies of Harry Potter and the Half-Blood Prince, “sales at Amazon.com’s North America media segment rose 21% in the third quarter, to $684 million.” Forbes supplies the detail investors want to hear: “pro forma earnings of 18 cents per share,” yet notes that Credit Suisse First Boston is still holding back on the love, as an analyst comments, “We don’t believe shares of Amazon will be able to outperform the broader Internet group.” WSJ adds that Deutsche Bank and Citigroup have also lowered their Amazon ratings, because “its third-quarter profit fell 44%, crimped by a legal settlement, and offered a muted sales and margin forecast for the crucial holiday quarter.” Or, as Business Week puts it, “good, just not good enough.”
