Wednesday 28 April 2010

Amazon makes less than half its revenues from books, music and DVDs

"In its first quarter earnings report on Thursday, in which it announced an expectations-busting 46 percent increase in revenues over the year before and a 68 percent increase in profit, Amazon said its worldwide media sales grew 26 percent to $3.43 billion. For the first time, that total is less than its worldwide sales of electronics and other general merchandise, which grew 72 percent to $3.51 billion.
This long-expected inversion point is significant for Amazon. It also gives the company some insulation from the unpredictable shifts in the media business, in which it faces tech heavyweights like Apple and Google in growing markets like digital music and e-books."
Source: Amazon Q1 Earnings, reported by The New York Times, 22nd April 2010

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