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July 22, 2010

Amazon.com Q2 net sales up 41% to $6.56bn

Expects net sales to be in the range of $6.9bn to $7.6bn for Q3 2010

By CBR Staff Writer

Amazon.com has posted second quarter net sales of $6.56bn, an increase of 41% compared to $4.65bn in the same period last year.

Operating income for the second quarter of 2010 increased to $270m, an increase of 71% compared to $159m for the same period last year.

Net income for the second quarter of 2010 was $207m or $0.45 per diluted share, an increase of 45%, compared to $142m or $0.32 per diluted share in the same quarter a year ago.

Jeff Bezos, founder and CEO of Amazon.com, said: "We’re seeing rapid growth in Kindle, Amazon Web Services, third-party sales, and retail. We’re also encouraged by what we see in mobile. In the last twelve months, customers around the world have ordered more than $1bn of products from Amazon using a mobile device.

"The leading mobile commerce device today is the smartphone, but we’re excited by the potential of the new category of wireless tablet computers. Over time, tablet computers could become a meaningful additional driver for our business."

The company expects net sales to be in the range of $6.9bn and $7.6bn for Q3 2010.

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