Online retailer Amazon has trebled
profits for the second quarter, traditionally the quietest for retailers.
Profits and sales have both risen higher than predicted, with profits up from
$22m (£10.7m) to $78m (£37.8m) and sales increasing 35 per cent to $2.9bn
(£1.4bn).
Amazon has now raised its full year sales forecast to between $13.8bn
(£6.7bn) and $14.3bn (££7bn) and profits forecast to as much as $640m (£312m).
International sales, which include the firm’s UK operations, are up 31 per
cent to $1.3bn (£633m).
Electronic products and other non-media items made the most significant gains
- up 55 per cent to $970m (£472.7m) - and now account for 34 per cent of all
business.
Media sales, which include Amazon’s book division, have risen 27 per cent to
$1.8bn (£877m). Book sales also include more than two million pre-orders for the
new Harry Potter book.
Amazon is continuing to expand its operations, with plans to launch a digital
music store that will allow customers to download music without any digital
copyright protection.
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