Amazon posts 16% profit rise to £147m

Amazon has posted a 16% rise in income to $231m (£146.7m) for the third quarter.

It saw sales increase by 39% to $7.56bn (£4.8bn), compared with $5.45bn (£3.46bn) in Q3 2009.

The increase in sales was bolstered by the online retailer’s Kindle e-book readers, now its bestselling product both in the UK and the US.

“The new-generation Kindle devices are the fastest-selling Kindles of all time and the bestselling products on Amazon.com and Amazon.co.uk,” said an Amazon statement.

Amazon launched a new version of the Kindle this summer ahead of plans to open an online bookstore in the UK to rival Apple’s iPad and iBookstore.

It expects sales in the fourth quarter to be between $12bn and $13.3bn (£7.62bn-8.45bn), which would be growth of 26-40% from Q4 2009.

Amazon saw a 68% rise in profits to $299m (£189.9m) in the first quarter of the year, while sales grew 46% to $7.13bn (£4.53bn).

This story first appeared on newmediaage.co.uk

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