Amazon reported their Q4 2012 revenues earlier this week. The company hit revenues of $21.27 billion and a good amount of that figure was driven by sales of the Kindle and e-books. The company’s expenses in the past quarter were very high though as proven by their $97 million in profit.
Amazon’s revenue was up 22% from $17.43 billion in Q4 2011. Operating income is up 56% at $405 million during the past quarter compared to $260 million last year. The company’s net income dropped 45% from the same time last year as they had $177 million in Q4 2011.
Amazon.com CEO Jeff Bezo was expecting these numbers. He said that e-books are a “multi-billion dollar category” for the company and it is “growing fast.”
In all of 2012, Amazon hit revenues of $61.09 billion, which is up 27% from $48.08 billion in 2011. Their operating income decreased 22% to $676 million compared to $862 million in 2011. In terms of 2012 profits, Amazon.com lost $39 million. compared to a net income of $631 million in 2011.