Amazon Net Sales up 31%
Amazon.com showed another great quarter of sales and income. Net sales ended September 30 are up 31% to 4.26 billion and net income is up 48% to $118 million. It has been said that Amazon's pricing of hardcovers for the Kindle at $9.99 represents a loss to Amazon for each sale but it is easily absorbing any loss. Amazon did feel that sales for the full year would be down, however, lowering expectations perhaps in line with what some retailers forecast to be a very slow holiday season.
Kindle sales "account for more than 10% of unit sales for books that are available in both digital and print formats" which is a nebulous number.