Amazon Hits $17.43 Billion In Fourth Quarter
Today Amazon.com has announced their financial results for the fourth quarter ended December 31, 2011. Their net sales have increased 35% to $17.43 billion in the fourth quarter. The company’s operating cash flow increased 12% to $3.90 billion compared to $3.50 billion for the trailing twelve months in the year before. Free cash flow decreased 17% to $2.09 billion.
Amazon’s operating income dramatically dropped in this quarter compared to the same quarter the year before. Operating income in the fourth quarter of 2011 was $260 million compared to $474 million in the year before. Net income decreased 58% to $177 million.
“We are grateful to the millions of customers who purchased the Kindle Fire and Kindle e-reader devices this holiday season, making Kindle our bestselling product across both the U.S. and Europe,” stated Jeff Bezos, founder and CEO of Amazon.com. “Our millions of third-party sellers had a tremendous holiday season with 65% unit growth and now represent 36% of total units sold.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry