Amazon.com has posted fourth quarter net sales of $13bn, an increase of 37% compared to $9.52bn in the same period last year.
Operating income for the fourth quarter of 2010 decreased marginally to $474m, compared to $476m for the same period last year.
Net income for the fourth quarter of 2010 was $416m or $0.91 per diluted share, an increase of 8.3%, compared to $384m or $0.85 per diluted share in the same quarter a year ago.
For the fiscal 2010, the company posted net sales of $34.2bn compared to $24.5bn in the previous fiscal 2009.
Income from operations and net income for FY10 increased to $1.4bn and $1.2bn, respectively, compared to an operations income and net income of $1.1bn and $902m, respectively, in the previous fiscal.
Amazon.com founder and CEO Jeff Bezos said the company had their first $10bn quarter, and after selling millions of third-generation Kindles’ with the new Pearl e-ink display during the quarter, Kindle books have now overtaken paperback books as the most popular format on Amazon.com.
"Last July we announced that Kindle books had passed hardcovers and predicted that Kindle would surpass paperbacks in the second quarter of this year, so this milestone has come even sooner than we expected and it’s on top of continued growth in paperback sales," Bezos said.
The company expects net sales to be in the range of $9.1bn and $9.9bn and operating income to be between $260m and $385m for Q1 2011.
