Amazon boasts first $10 billion quarter
Kindlebooks eclipse paperbacks
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Amazon's quarterly sales topped $10 billion for the first time in the fourth quarter of last year.
For the quarter ending December 31, the mega-etailer pulled in net sales of $12.95 billion, up from $9.5 billion in Q3. That's a 37 per cent increase from the previous year, and it translated to profits of $416 million, an 8 per cent jump.
In a prepared statement, CEO Jeff Bezos also announced that Kindle ebooks have now surpassed paperbacks as the most popular book format on Amazon.com. Previously, the company has announced that ebooks had surpassed hardcovers in popularity, and that they would leapfrog paperbacks in the second quarter of this year. So Bezos patted his own company on the back for being ahead of schedule.
For the entire year, net sales increased 40 per cent to $34.20 billion, and profits rose 28 per cent to $1.15 billion. But Amazon didn't quite meet the expectations of the Wall Street guessmen. The company's stock price dropped over 9 per cent in after-hours trading. ®
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COMMENTS
kindlebooks...
Are they more popular in terms of sales, or in terms of units downloaded?
Because Pride and Prejudice (for example) costs £0.00, and at that price, you would, wouldn't you?
SWMBO got several dozen books from Project Gutenberg for her e-reader; if it had been a Kindle, it would have been easier to just download from Amazon.
More detail required...
Kindle books
Well maybe it's time to do some bloody quality control checking on the Kindle books then! I have 10 Kindle books and every single one of the paid for books has problems in formating and OCR glitches. Why are they even using OCR when the book would have been created digitally anyway?
Considering the digital copy is quite often as expensive or more so with VAT on top than the physical books, I'd expect them to have this sorted, especially as we're on the third generation of Kindle now.
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