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Amazon 3Q Sales Up 44% to $10.88
Nov 2, 2011
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Online retail giant Amazon.com had net sales increased 44% to $10.88 billion in the third quarter of 2011, compared with $7.56 billion in 3Q 2010. Excluding the $371 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 39% compared with third quarter 2010.

In the first nine months of 2011, net sales for Amazon were $30,646 million, up from $21,257 million in the first nine of 2010. Net income for the year to date is $454 million, down from $736 million in the first nine months of 20102.

In the third quarter ended Sept. 30, 2011, operating income was $79 million, compared with $268 million in 3Q 2010. The favorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $14 million.

Net income decreased 73% to $63 million, compared with net income of $231 million in 3Q 2010.

"September 28th was the biggest order day ever for Kindle, even bigger than previous holiday peak days - we introduced Kindle Fire for $199, Kindle Touch 3G for $149, Kindle Touch for $99, and our all new Kindle for only $79," said Jeff Bezos, founder and CEO of Amazon.com. "In the three weeks since launch, orders for electronic ink Kindles are double the previous launch. And based on what we're seeing with Kindle Fire pre-orders, we're increasing capacity and building millions more than we'd already planned."

Net sales are expected to grow between 27% and 44% compared with fourth quarter 2010 to be between $16.45 billion and $18.65 billion in 4Q 2011.

Amazon expects a 4Q operating loss between -$200 million and -$250 million, or between 142% decline and 47% decline, compared with 4Q 2010. The guidance includes approximately $200 million for stock-based compensation and amortization of intangible assets.

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