Thursday, January 27, 2011

Amazon.com Has $12.95 Billion Quarter

Seattle-based Amazon.com released its fourth quarter results Thursday afternoon, saying it had $12.95 billion in fourth quarter sales. That was up 36% compared with fourth quarter of 2009, and is the first time the firm has had revenues of greater than $10 billion. In a statement, Amazon founder and CEO Jeff Bezos said it was "our first $10 billion quarter", and attributed those sales to the popularity of the firm's third generation Kindles. Bezos also said that Kindle books are now more popular than paperbook books on the site; the electronic format books already had passed hardcovers in July.