Amazon Kindle e-book downloads outsell paperbacks
(BBC): Amazon has announced that in the US it sold more e-books for its Kindle device than it sold paperback books in the last three months of 2010. But its profit margins were down as it spent money on discounting, acquisitions and building new depots. Amazon shares fell 9% in after-hours trading as its sales were not as good as had been expected. Three month net sales passed $10bn for the first time, up 36% to $12.95bn, but analysts had predicted a higher figure. Three month net income came in at $416m (£262m), which was up 8% from the same period last year. The world’s biggest online retailer’s operating margin declined to 3.7% from 5% at the end of 2009 and the company warned that it would be between 2.8% and 3.8% in the first three months of 2011.
Category: Technology
