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Amazon posts record $21bln sales in Q4

Source : ANI
Last Updated: Wed, Jan 30, 2013 05:30 hrs

One of the world's largest online retailers Amazon has reported record sales in the final quarter of 2012, a report has said.

International sales, which includes the UK, jumped 20 percent to a record 9.09 billion dollars.

That helped drive Amazon's total sales in the quarter to 21.3 billion dollars, up 23 percent from 2011.

According to the Telegraph, Amazon shares surged in after-hours trading in New York after the retailer's operating profits of 405 million dollars comfortably beat a forecast the company gave Wall Street in October.

The shares climbed eight percent to 282 dollars, as investors were cheered that the Seattle-based company is making money despite the billions of pounds it is investing in new warehouses.

Neil Saunders at retail analysis firm Conlumino said Amazon will continue to grow its share of consumer spending in the UK this year, heaping pressure on traditional retailers.

Amazon, which was founded by Jeff Bezos in 1994 as a bookseller, said that sales of electronic books surged 70pc, while sales of physical books saw their weakest growth in the company's history, the paper said. (ANI)




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