Amazon Posts Better Than Expected 2nd Quarter

July 27th, 2011 at 1:13 pm
 


Tech companies still seem to make good business this quarter. Except for a relatively few tech giants, many of the tech companies are enjoying great results for this current quarter. Among them is e-commerce giant Amazon.com which announced better than expected 2nd quarter.

Amazon recently announced the financial results for the 2nd quarter ending June 30. The company reported of earning $191 million during the 2nd quarter on revenues of $9.91 billion. The numbers indicate a 51 percent increase in terms of revenues from a year ago. The earnings translates to around 41 cents a share, which was better than the previous estimate in Wall Street of around 31 cents per share for $9.38 billion in revenue.

Amazon’s growth seems to have been spurred on by brisk sales of its Kindle devices. The Kindle Store has been offering around 900,000 book titles, making it quite an interesting venue for Kindle users to choose and load up digital book titles with most of them going for less that $9.99. Around less than half of Amazon’s revenue for the 2nd quarter came from international sales. While North America accounted for $5.41 billion in revenue, overseas sales garnered $4.51 billion for the 2nd quarter. Both numbers signified a 51 percent increase from numbers from a year ago.

With a better than expected 2nd quarter, Amazon raised its outlook for the next quarter. The company expects to garner sales of around $10.3 billion and $11.1 billion for the 3rd quarter. That stands to be a 35 percent to 47 percent improvement from the 3rd quarter of last year.

 

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