Amazon.com sales and profits soar in Q3

23 Oct 2009

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Online retailer Amazon.com reported last night revenues of US$5.4 billion, up 28pc, driven by strong e-commerce sales and the success of its Kindle e-book reader.

Excluding the US$41 million unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 29pc compared with third-quarter 2008.

Net income increased 68pc to US$199 million in the third quarter, or US$0.45 per diluted share, compared with net income of US$118 million, or US$0.27 per diluted share, in third-quarter 2008.

“Kindle has become the No 1 best-selling item by both unit sales and dollars – not just in our electronics store but across all product categories on Amazon.com,” said Jeff Bezos, founder and CEO of Amazon.com.

“It’s also the most-wished for and the most gifted. We are grateful for and energised by this customer response.

“Earlier this week, we began shipping the latest generation Kindle. Its 3G wireless works in the US and 100 countries, and we’ve just lowered its price to $259.”

By John Kennedy

Photo: The Amazon Kindle.

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Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com