Amazon Sales Up To $21.27 Billion In Q4

Seattle-based said Tuesday that it has $21.27 billion in fourth quarter sales in Q4, up 22 percent from Q1 of 2011, when it had $17.43 billion in sales. However, Amazon missed Wall Street estimates, as its profits for the quarter dropped to $97M, versus profits of $177M last year. Those results resulted in net income of $0.21 per share, below an analyst target of $0.27 per share. Amazon highlighted the growth of the e-book market for the firm, saying e-book sales are up approximately 70 percent from last year, while physical book sales only grew 5 percent--the lowest December growth rate for the company in the past 17 years.