Amazon Profits Fall, But Beat Estimates

  • October 25, 2006
Online retailer reported Tuesday that worldwide electronics sales totaled $699 million in the third quarter, marking a 43% increase from last year. Electronics sales also accounted for 30% of worldwide net sales last quarter, up from 26% one year ago. The company's net income for the quarter fell to $19 million, or 5 cents a share, from $30 million, or 7 cents a share last year; Wall Street analysts had predicted profits of just 3 cents a share.
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