Amazon announces another bumper year

The world’s largest e-commerce retailer Amazon has announced financial results for its fourth quarter and fiscal year ended 31 December 2008. Net sales increased 18% to USD6.70 billion in the fourth quarter, compared with USD5.67 billion in fourth quarter 2007. Net income increased 9% to USD225 million in the fourth quarter, compared with net income of USD207 million in fourth quarter 2007. “We remain relentlessly focused on serving customers with low prices, great selection and free shipping offers, including Amazon Prime,” said Jeff Bezos, founder and CEO of Amazon. “We’re particularly grateful for the unusually strong demand for Kindle in the fourth quarter.” For the full year net sales increased 29% to USD19.17 billion, compared with USD14.84 billion in 2007. Net income increased 36% to USD645 million in 2008, compared with net income of USD476 million in 2007.

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