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Amazon Profits Plunge As Revenues Surge
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Amazon has announced that its second-quarter sales jumped by 29% to reach US$12.83 billion, although net profits dropped by 96% to just US$7 million. The quarter includes US$65 million of estimated net loss related to the acquisition and integration of Kiva Systems.
Kindle Fire remains the bestselling product across the the Amazon website since launch. Over this same period, the top 10 selling items on Amazon were digital products - Kindle, Kindle books, and accessories.
Also, 20 of the top 100 bestselling Kindle titles were from Kindle Direct Publishing authors.
For the third-quarter, net sales are expected to be between $12.9 billion and $14.3 billion, or to grow between 19% and 31% compared with a year ago.
Tags: [amazon]
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