Amazon's Q2 Profits Soar 257%
By Alan Wolf -- TWICE, 7/25/2007
Seattle — Strong sales of CE helped boost Amazon.com’s net income 257 percent to $78 million for the second quarter, ended June 30.
Net sales for the e-tail pioneer grew 35 percent to $2.9 billion for the period.
Founder and CEO Jeff Bezos attributed the strong revenue growth to low prices and the added incentive of Amazon Prime, a $79 per year membership program that offers free, unlimited two-day shipping.
Within North America, net sales rose 38 percent to $1.6 billion, and operating income soared 233 percent to $82 million. On the product front, North American sales of electronics and other general merchandise increased 66 percent to $606 million, and sales of media rose 26 percent to $923 million.
Amazon.com includes within its media category music, DVD/video, computer software, video game consoles and software, books, magazine subscriptions and DVD rentals. Its electronics and other general merchandise business is largely comprised of CE, but also includes office products, toys, tools, home and garden, food, apparel, housewares, jewelry and other consumer products.
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