Amazon profits surge 28 percent in Q3

October 23, 2009

(ChattahBox) — Amazon.com today announced a 28% increase in sales for the third quarter ended September 30, up to $5.45bn from $4.26bn in the same period last year.

The sales boost was largely attributed to the successful introduction of the company’s e-reader Kindle.

“Kindle has become the #1 bestselling item by both unit sales and dollars – not just in our electronics store but across all product categories on Amazon.com,” said founder and CEO Jeff Bezos.

Net income increased 68% to $199m in the third quarter, or $0.45 per diluted share, compared with net income of $118m, or $0.27 per diluted share, in third quarter 2008, easily beating Wall Street estimates and said holiday sales could come in far above expectations.

For the key holiday fourth quarter, Amazon said it sees revenue to range between $8.125 billion and $9.125 billion, compared with analysts’ expectations for $8.13 billion.

Shares of the Seattle-based e-commerce giant immediately jumped, up more than 10 percent in after-hours trading.


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One Response to “Amazon profits surge 28 percent in Q3”

  1. Amazon profits surge 28 percent in Q3 – Chattahbox.com | Bargain Ebook Readers on October 24th, 2009 12:40 pm

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