Amazon shares suffer as cash flow questions raised
Shares in Amazon.com have slipped after analysts questioned whether the company has as much cash as it reported in its latest quarterly earnings.
LONDON (Brand Republic) - Shares in Amazon.com have slipped after analysts questioned whether the company has as much cash as it reported in its latest quarterly earnings.
Amazon’s share price lost $2.75, closing at $32.87 yesterday, after posting an SEC filing stating that it “may seek to sell additional equity or debt securities or to obtain credit at such times as we deem appropriate”.
This, analysts say, could mean that Amazon’s cash flow situation is not as healthy as it appeared on its balance sheet.
Questions were also raised in two recent articles on online news service Barron’s, which suggested that some of Amazon’s accounting practices could make its cash situation look better than the reality.
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