Amazon.com Just Had Their First $10 Billion Quarter
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Amazon.com, Inc. (NASDAQ:AMZN) has recently announced their results for Q4 ending December 31, 2010./ The company sales hit $12.95 billion. This is 36% higher from the same time last year when they hit $9.52 billion. The net income increased 8% to $416 million.
“We had our first $10 billion quarter, and after selling millions of third-generation Kindles with the new Pearl e-ink display during the quarter, Kindle books have now overtaken paperback books as the most popular format on Amazon.com. Last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the second quarter of this year, so this milestone has come even sooner than we expected – and it’s on top of continued growth in paperback sales,” stated Amazon.com CEO and founder Jeff Bezos.