AMZN Conference Call Summary

The following is courtesy of Briefing.com

Amazon Conference Call Summary

Expect effective tax rate to be ~23% in Y07 but notes that this is subject to changes from q/q... stock is trading at $48.83 in pre-market... Will not provide tax rate guidance beyond Y07... co says encouraged by global opportunity; seeing a higher growth rate in N. America than in International; co says will be rolling out new International revenues going forward... Gross Margin: Notes that the endless $5 rebate was reflected in Q1 results and guidance that they gave; says saw a contraction of gross margins in Q1, down 17 basis points but that is slower than they have previously seen; says due to strength in third party business particularly in International biz... EC2 and S3: seeing strong demand for services; will roll out new capacity for them but will not provide an exact spending amount... Noto from Goldman asks about International effects on margins and asks about pre-orders for Harry Potter and how that helps: Co says they expect N. America and International margins to get closer over time, expects to see continued International improvement with third party; says that impact from Harry Potter was 'pretty small'.
After hours AMZN is trading @ 50.00 up almost 12% from today's 4:00 close.