By Chris Tribbey | Posted: 29 Jan 2009
While other retailers are shedding jobs and shuttering stores, Amazon.com announced Jan. 29 that it had a very strong fourth quarter, posting profits of $255 million, up 9% from the same three months (ended Dec. 31) in 2007. Revenue was at $6.7 billion, up 18% from the same period last year.
“We remain relentlessly focused on serving customers with low prices, great selection and free shipping offers, including Amazon Prime,” said Jeff Bezos, founder and CEO of Amazon.com. “We’re particularly grateful for the unusually strong demand for Kindle in the fourth quarter.” The Kindle is Amazon’s electronic book reader.
Sales of DVDs, Blu-ray Discs and other media were $3.64 billion worldwide, up 9% compared to the same period in 2007. Sales of electronics and “other general merchandise” grew to $2.89 million worldwide, up from $2.21 billion during the fourth quarter of 2007.
Shares of Amazon were up more than 13% in after-hours trading to more than $56.