kindle
E-commerce giant Amazon just reported second quarter results, posting sales of $9.9 billion, an increase of 51 percent from the same quarter in 2010. Net income decreased 8% to $191 million in the second quarter, or $0.41 per diluted share, compared with net income of $207 million, or $0.45 per diluted share, in second quarter 2010. Analysts expected strong sales of $9.37 billion but earnings were expected to drop to $0.35 cents per share for net income.
The Kindle 3G with advertising is now the company’s bestselling Kindle, says Amazon. Amazon founder and CEO Jeff Bezos said in a statement: “Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we’ve seen in over a decade…Kindle 3G with Special Offers has quickly become our bestselling Kindle at only $139. Customers love the convenience of a 3G reader — no hunting for or paying for Wi-Fi hotspots. Amazon picks up the tab for the 3G wireless, so you have no monthly payments or annual contracts.”