Amazon posted a sales increase of 22-per-cent over the critical fourth quarter Tuesday as customers snapped up 21.27-billion dollars worth of goods from the leading web retailer.
Operating income grew 56 per cent to 405 million dollars, from 260 million a year earlier. But net income was down 45 per cent to 97 million dollars as the company continued to pursue greater market share with low profit margins, while also ramping up investment in infrastructure and logistics centres.
That strategy is at the core of the company's long-term growth plan, which is starting to bear fruit, said founder and CEO Jeff Bezos.
"We're now seeing the transition we've been expecting," said Bezos in a statement. "After 5 years, eBooks is a multi-billion dollar category for us and growing fast - up approximately 70 per cent last year."
Most Popular Stories
- Social Media Campaign Increases Organ Donor Registrations
- Airport Garners Social Media Award
- What Will Happen When Quantitative Easing Ends?
- MillerCoors Taps New Hispanic Ad Agency
- Aetna Leaving California's Individual Health Insurance Market
- Calories Count: Starbucks to Post the Numbers on Menu Boards
- Honda Says Sorry About the Lack of Electric Fits
- Immigration Reform Would Decrease U.S. Budget Deficit
- Comcast Takes a Stake in a YouTube Content Provider
- First Person Cured of AIDS Virus Wants to Help Others