Amazon Posts Strong Q3 Results

Amazon has posted strong third quarter results and its projection for the forth quarter revenue looks positive.

The online retail giant announced that its net income increased 16 per cent to $231 million in the third quarter, or $0.51 per share.

The company's revenue was reported to be $7.56 billion, higher than the $7.36 billion predicted by Wall Street analysts.

Jeff Bezos, Amazon's founder and CEO, said in a statement: “Every year for the last 15 years we’ve worked to improve the things customers care about, and this year is no exception. This holiday season we’ll have the best prices, the biggest selection, the highest in-stock, and the fastest delivery in our history.”

Amazon also said that its North America sales were at 4.13 billion, up 45 per cent from third quarter 2009, while the sales in the international division, which includes the company's UK, German, Japanese, French and Chinese websites, made $3.43 billion, up 32 per cent from third quarter 2009.