HENRY BLODGET: Dear America: It’s Time to Say a Big “Thank You” To Amazon.
The company missed Wall Street’s estimates for both revenue and earnings and said it would have lower profit margins next quarter. This resulted in the usual spanking of Amazon’s stock, as short-term profit seekers growled in disgust and raced for the exits.
In other words, with respect to Amazon, it’s the same as it ever was. . . . Amazon is doing what many more American corporations could and should do: Balance the near-term “profit motive” with a more holistic mission of focusing on the long-term and serving customers, employees, shareholders, and the community at large.
Is that right? Because that’s what people say they want.