Amazon Posts 51 Percent Rise in Q2 Sales

Amazon.com Inc., the world’s largest online retailer posted a 51 percent jump in its second-quarter sales.

Net sales increased to $9.91 billion in the second quarter, compared with $6.57 billion in second quarter of 2010. Net income decreased 8 percent to $191 million in the second quarter, or 41 per share, compared with net income of $207 million, or 45 cent per share.

“Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we’ve seen in over a decade,” Jeff Bezos, Amazon’s founder and chief executive, said in a statement.

Amazon recently achieved a milestone with regard to its original business, bookselling. In May, less than four years after the introduction of the Kindle, the company said it was selling more e-books than physical books. Last week, as if to punctuate the quickening transition to digital, came the news that the Borders chain of bookstores was liquidating.

Amazon projects third-quarter revenue between $10.3 billion and $11.1 billion, compared with analysts estimates of $10.35 billion.



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