Earnings: Amazon Q3 Sales Jump 41 Percent; Income Soars
The market was expecting big things from Amazon, and the company has delivered. Revenues in Q3 surged 41 percent to $3.26 billion from $2.31 billion last year. Net income quadrupled to $80 million ($.19 per share) from $19 million ($.05 per share) last year. The company cited its low prices and its Amazon (NSDQ: AMZN) Prime offering for its growth. Numbers were bolstered somewhat by a $75 million revenue boost associated with exchange rates and a lower tax rate during the period. During the day, the company’s stock closed just ahead of $100, as it’s touching highs not seen since the very top of the bubble. --290,000 developers registered for the company’s much-vaunted Amazon Web Services platform, up 25,000 from the prior quarter. --45 percent of sales were international --Worldwide Media sales grew 36 percent, hitting $2.09 billion --Release notes the launch of Amazon MP3, though no figures are given. More to come Release | Webcast (5:00 PM ET)
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