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Amazon reports soaring Christmas sales

Online retail giant Amazon has celebrated soaring Christmas sales as customers flocked to buy its Kindle e-readers and e-books. In the quarter ending 31 December 2012,… View Article

GENERAL MERCHANDISE

Amazon reports soaring Christmas sales

Online retail giant Amazon has celebrated soaring Christmas sales as customers flocked to buy its Kindle e-readers and e-books.

In the quarter ending 31 December 2012, the company increased its sales by 22% to to $21.3 billion, from $17.5 billion in the fourth quarter of 2011.

Operating income surged 56% to $405 million driven by strong sales of e-books and the company’s Kindle e-readers. However, net income fell 45% to $97 million.

Amazon said its e-book category was growing fast, with sales up 70% on the previous year. 

Jeff Bezos, founder and CEO of Amazon, said: “We’re now seeing the transition we’ve been expecting.

“After 5 years, eBooks is a multi-billion dollar category for us and growing fast – up approximately 70% last year. In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5%.

“We’re excited and very grateful to our customers for their response to Kindle and our ever expanding ecosystem and selection.”

 

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