Amazon hit its first $10 billion quarter, Kindle books overtaking paperbacks sales in Amazon
Apparently not many people like to buy books from Amazon. If not, then I’m not sure how to summarize this case. Amazon’s digital book sales eclipsed the sales of hardcover books sold by Amazon, and it barely took half a year for those e-book sales to also overtake the sales of paperbacks.
According to the ouftit’s latest earnings release, “Kindle books have now overtaken paperback books as the most popular format on Amazon.com.” The company predicted this to happen in the Q2, but apparently time machine is a fastpoke. The company sold through $12.95 billion worth of goods, which marks their first $10 billion quarter.
Net income reaches up to $416, about an eight-percent climb from last year. Of note, operating income slipped from $476 million in Q4 2009 to $474 million this year, with the unfavorable impact from year-over-year changes in foreign exchange rates generating a staggering $18 million hit.
The company is now moving 115 Kindle books for every 100 paperbacks sold, but this obviously only takes into account the US book business. We’re still no closer to finding out exactly how many Kindles have been moved, but we’re told that “millions” of the third-gen model were moved in Q4 2010, and the Kindle Store itself has over 810,000 books on its digital shelves.
SOURCE via Amazon