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A box from Amazon.com is pictured on the porch of a house in Golden, Colorado on July 23, 2008.
A box from Amazon.com is pictured on the porch of a house in Golden, Colorado on July 23, 2008.
(RICK WILKING/REUTERS)

Shareholders don’t hold back in punishing Amazon

Shareholders have punished Amazon with a whole new multiple.

The $165-billion (U.S.) internet retailer chalked up another stunning quarter of growth – revenue rose 23 per cent. Investors’ devotion to this figure over the years, rather than the at best anemic bottom line, explains why the stock now trades at 112 times next year’s expected earnings, according to Reuters data.