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Amazon’s just announced its Q4 earnings, and it’s a bit of a mixed bag. While net sales were up 35 percent year-over-year to $17.43 billion, net income dropped a hefty 58 percent to $177 million, or 38 cents a share – that’s off analysts’ expectations, who were looking for sales in the neighborhood of $18.3 billion and earnings of 17 cents a share. The company is also expectedly remaining mum on any specific Kindle sales figures, but it says that sales of all Kindle devices nearly tripled over the holiday shopping season, and that the Kindle Fire remains the bestselling item across all the products it offers. Of course, the loss it’s taking on each one is also one of the big reasons for that drop in profits.
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Continue reading Amazon announces Q4 2011 results: sales jump to $17.43 billion, but profits drop 58 percent
Amazon announces Q4 2011 results: sales jump to $17.43 billion, but profits drop 58 percent originally appeared on Engadget on Tue, 31 Jan 2012 16:26:00 EDT. Please see our terms for use of feeds.
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