Amazon has announced its financial results for its fourth quarter, including an increase in sales of 36% to $12.95 Billion.
"Thanks to our customers, we achieved two big milestones," said CEO Jeff Bezos. "We had our first $10 billion quarter, and after selling millions of third-generation Kindles with the new Pearl e-ink display during the quarter, Kindle books have now overtaken paperback books as the most popular format on Amazon.com. Last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the second quarter of this year, so this milestone has come even sooner than we expected – and it’s on top of continued growth in paperback sales."
The company is selling more Kindle bokos than paperbacks, and it sold millions of third-generation Kindles. More highlights here.
For the first quarter, net sales are expected to be between $9.1 billion and $9.9 billion, or to grow between 28% and 39% compared with first quarter 2010, according to the company.
From the release: