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."
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
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