Amazon has strong quarter thanks to digital sales

Amazon has strong quarter thanks to digital sales
Amazon reported strong quarterly earnings this week, thanks mainly to strong digital sales.

Net income for the quarter was $130 million, a decline from last year but well above what analysts were expecting from the company. Earlier this year, Amazon itself said it could see a large loss of $200 million as it continues to spend on a digital expansion and new centers to ship goods.



Revenue grew 34 percent to $13.18 billion, continuing its trend of strong growth.

CEO Jeff Bezos would not apologize for his company's expenditures, which seem to always depress profits while planning for the future and a growing audience.

Digital, for its part, seems to be paying off. Revenue from media, including ebooks, music, movies and apps grew 17 percent to $2.2 billion.

As is their policy, the company did not reveal how many Kindle Fire tablets have been sold, although that number is expected to be above 5 million.

Written by: Andre Yoskowitz @ 29 Apr 2012 16:36
Tags
Amazon Earnings digital sales
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