Amazon has strong quarter thanks to digital sales

Amazon reported strong quarterly earnings this week, thanks mainly to strong digital sales.Net income for the quarter was $130 million, a decline from last year but well above what analysts were expecting from the company. Earlier this year, Amazon itself said it could see a large loss of $200 million as it continues to spend on a digital expansion and new centers to ship goods.Revenue grew 34 percent to $13.18 billion, continuing its trend of strong growth.CEO Jeff Bezos would not apologize for his company's expenditures, which seem to always depress profits while planning for the future and a growing audience.Digital, for its part, seems to be paying off. Revenue from media, including ebooks, music, movies and apps grew 17 percent to $2.2 billion.As is their policy, the company did not reveal how many Kindle Fire tablets have been sold, although that number is expected to be above 5 million.Permalink | Comments

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