Amazon, perhaps more than any company in the industry, is seen as a bellwether for the online retail sector. And heading into the all-important holiday shopping season, all eyes were on the ecommerce giant as it reported third-quarter earnings on Thursday.
So how did the venerable firm fare? Quite well, it turns out. Amazon topped analysts’ projections for both revenue and profits in the third-quarter, and signaled that it has its sights set on a brisk fourth quarter with its ever-expanding digital arsenal surrounding the Kindle. ECommerce Guide has the numbers.
Online retail giant Amazon reported solid financial results for its third quarter on Thursday, posting healthy growth over the year-earlier period and besting analysts’ projections in both profits and revenue.
For the quarter running from July through September, Amazon (NASDAQ: AMZN) posted net income of $231 million, or 51 cents per share, 16 percent ahead of the third quarter of 2009, when the ecommerce heavyweight reported profits of $199 million, or 45 cents per share.