Amazon.com Reports Higher Sales, But Lower Income In Q1
Amazon.com, Inc. (NASDAQ:AMZN) has recently reported their first quarter 2011 financial information. They posted $9.86 billion in revenues for the first quarter, which puts them up 38% during the same quarter last year. But Amazon.com’s net income has decreased 33% to $201 million for the first quarter. During the same quarter last year, Amazon.com reported a net income of $299 million.
“In the last 90 days, we announced Kindle with Special Offers, Kindle Library Lending, Audible audiobooks on Kindle, Appstore for Android, Amazon for Windows Phone 7, Checkout by Amazon in both Germany and the U.K., a Kindle Store in Germany, Cloud Drive, Cloud Player, and Prime Instant Video – just to call out a few of the things we’ve been working on…We love inventing on behalf of customers and have never been more excited about the long-term opportunities,” stated Amazon.com CEO and founder Jeff Bezos.
The Kindle Store now has over 900,000 books available for purchase and millions of people are downloading Android applications from the Amazon.com Appstore.
In North America (U.S. and Canada), Amazon.com’s sales were at $5.47 billion, up 45% from the same quarter last year. International sales were at $4.39 billion, which was up 31% for the same quarter last year.@amitchowdhry or on Google+ at +AmitChowdhry