The world’s largest ecommerce Amazon.com beat Wall Street’s expectations with net sales of $13.18 billion in the first quarter 2012, compared to $9.86 billion in the first quarter 2011. The latest quarter ended in March 31, 2012. This was an increase of 34% over the same quarter one year ago.
The King of Ecommerce net income (profits) dropped to $130 million in the first quarter, or a drop of 35% over one year ago. One year ago the company had net income of $201 million.
Amazon noted that its Kindle Fire e-reader continues to maintain as the company’s top selling item. Kindle Fire was launched during the week heading into Thanks Giving holiday in America in the third week of November 2011. The basic model of this e-reader started at $199. This tablet computer runs on Google Android operating system. Kindle Fire competes with Barnes & Noble Nook which also run on Android OS.
(Image: Kindle Fire)