Amazon’s New Kindle Releases Boost Financial Results

Oct 26, 2011

The third quarter was accompanied by a large number of product enhancements, developments, and announcements by Amazon. Amazon released financial results from 3Q 2011 that reveal increases in shares and net sales and decreased operating income. It announced its sales for the quarter were up 44% from 3Q 2010 to total $10.88 billion. CEO Jeff Bezos announced that Sept. 28 was the biggest order day for Kindle, ever; that was the day Amazon introduced four new Kindle devices, including the tablet-like Kindle Fire.

These new devices also include two touch screen Kindles and a new Wi-Fi edition starting at $79, and demand for the products already exceeds what Amazon anticipated, said Bezos. Amazon says it expects its sales for 4Q 2011 (and the holiday season) to be up to $18.65 billion, growing up to 44% from 4Q 2010, while its operating income is expected to decline up to 142% compared with 4Q 2010.