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3/4/2003
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$1 Billion And Counting

Amazon.com Inc. had its first nonholiday quarter with more than $1 billion in revenue. The Web retailer lost $10 million on the $1.1 billion in sales for the first quarter ended March 31. The company made $39 million on an operating basis, but interest on its $2.3 billion in debt and some noncash expenses swallowed those gains. Amazon predicts its strategy of cutting costs so it can lower prices will let it keep the $1 billion-plus sales pace in the second quarter and reach at least $4.7 billion for the year.

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