While this may be a slower increase than we saw in 2005, this takes Amazon further away, not closer, to its goal of double-digit margins.

It might be the case that Amazon finally reached the top level of expenses.

For some reason, people had their hopes much higher than this, especially for the guidance. Everything seems to be in line.

There was little new in Amazon's quarter or guidance as both followed Amazon's trend for the past several quarters, which is to meet guidance and lower margin expectations.

I would be curious and cautious about what that would entail.

Yahoo is the largest destination for brand advertisers. Unfortunately, it has been overshadowed by search.