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August 30, 2008 1:33:34 AM CDT

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Amazon Reports Large Increase in 3Q Sales

Posted Oct 24, 07 12:30 AM CDT in Technology,  Business 

(Newser) – Amazon reported strong increases in third-quarter sales, citing once again its low pricing and free shipping for success. But investors may have been hoping for an even larger increase, because Amazon's share prices fell over 8% in after-hours trading. The company netted a profit of $80 million for the quarter, an increase of 313% over last year’s figures, according to CNNMoney.

Amazon beat analysts’ estimates of 18 cents per share profit by a penny, but other factors may have disappointed.  "The stock's guidance for the year was a little below what the Street expected," a Lazard Capital analyst said. Meanwhile, another analyst noted "margin contraction," saying that with increased selection and lower prices ahead of the holiday season, "you end up taking a bigger hit."

Source CNN

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An Amazon.com employee stacks boxes containing copies of J.K. Rowling's book, "Harry Potter and the Deathly Hallows," inside the Amazon.com fulfillment center in Fernley, Nev., Monday, July 16, 2007....   (Associated Press)
Jeff Bezos, Amazon.com, founder and CEO, takes questions from shareholders during the Amazon shareholders meeting in Seattle in this June 14, 2007 file photo. Amazon.com Inc. is expected to release quarterly...   (Associated Press)
Amazon Fresh delivery man Tim Wilkie prepares a grocery order for delivery to a residence on Mercer Island, Wash., Thursday, Aug. 23, 2007. Amazon Fresh is a new grocery delivery service being tested...   (Associated Press)
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