Amazon profits slump after heavy Kindle investment

Written By: Lisa Campbell Publication Date: Wed, 26/10/2011 - 10:05 Amazon’s profits have dropped by 73% in its third quarter, with the company's investment in its Kindle e-readers blamed for the slump. In the three months to 30th September, net income fell from $231m (£144.4m) to $63m (£39.4m) year on year. Sales rose by 44% to $10.88bn (£6.8bn), in comparison to $7.56bn (£4.7bn) in 2010. In its international arm, including sites in the UK, Germany, Japan, France, China, Italy and Spain, the company reported sales were $4.94bn (£3.1bn), up 44% from third quarter 2010. read more Continue reading at 'The Bookseller'

[ The Bookseller | 2011-10-26 00:00:00 UTC ]

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