SHARE
TEXT SIZE:
SHARE
Send a copy to me

Separate multiple email addresses (max 20) with commas.

0/1500

Happy Holidays From Amazon

Online retailer reports 42 percent gain in sales for quarter. 
Last Trade:Change:
Industry:
Retail
Primary executive:
Jeffrey P. Bezos,
Summary:
The Company offers programs and services to consumer, seller and developer customers through its retail websites which enable … View More
Jeffrey P. Bezos
Industry:
Retail
Biography:
Jeffrey P. Bezos, age 44, has been Chairman of the Board of the Company since founding it in 1994 and Chief Executive Officer … View More
Americans are reining in their purchases at brick-and-mortar stores, but online? For many, it's still shop till you drop (or until your internet connection crashes).

Amazon.com recorded a 42 percent gain in sales in its fourth quarter, by far its biggest quarter because it includes the holiday shopping season. Online commerce overall did well this during the season, with sales rising 19 percent from a year, Bloomberg News reports. American retailers overall had only single digit gains.

More important, Amazon was upbeat about the year to come, suggesting that consumers may be more confident than recent economic data, including the G.D.P. report, might suggest. The company expects revenue of $18.8 billion to $19.8 billion for the year, above analysts' forecasts.

For the quarter, Amazon said net income more than doubled, to $207 million or 48 cents per share, compared with net income of $98 million, or 23 cents per share, in the quarter a year earlier. Sales rose 42 percent, to $5.7 billion. The profit matched Wall Street's estimates, but the revenue number topped them.

"This quarter showed accelerated sales growth and record operating profits," said Jeff Bezos, founder and chief executive of Amazon.com. "In our view, these unusual financial results are driven by one thing: continuously improving the customer experience."



 



 
Also in Portfolio.com
Most Read
Most Emailed
Recently Commented