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Amazon Posts Double-Digit Q3 CE Sales Increase

10/24/2007 09:45:00 AM Eastern

Seattle – reported double-digit sales gains and triple-digit net income in the third quarter, with electronics and North American sales also enjoying double-digit sales increases.

For the third quarter ended Sept. 30 net sales increased 41 percent to $3.26 billion, compared with $2.31 billion in the third quarter 2006. Excluding the $75 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales grew 38 percent compared with third quarter 2006.

Net income increased 313 percent to $80 million in the third quarter compared with net income of $19 million in third quarter 2006.

Worldwide electronics and other general merchandise sales grew 54 percent to $1.08 billion in third quarter 2007 and increased to 33 percent of worldwide net sales compared with 30 percent in third quarter 2006.

Amazon also reported that its North America segment sales, representing the company’s U.S. and Canadian sites, were $1.79 billion, up 42 percent from third quarter 2006.

Amazon expects fourth-quarter net sales to be between $5.1 billion and $5.45 billion, or to grow between 28 percent and 37 percent compared with fourth quarter 2006. Operating income is expected to be between $221 million and $291 million, or grow between 12 percent and 48 percent compared with fourth quarter 2006.

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