Amazon Profit Down 73 Percent
Amazon Tuesday posted a third quarter profit of $63 million, a 73 percent drop over the same period the year before.
The new Kindle lineup, including the forthcoming Kindle Fire tablet, was introduced two days before the quarter's end. Electronics sales, under the category Worldwide Electronics and Other General Merchandise, rose 59 percent to $6.32 billion.
“In the three weeks since launch, orders for electronic ink Kindles are double the previous launch. And based on what we're seeing with Kindle Fire pre-orders, we're increasing capacity and building millions more than we'd already planned," CEO Jeff Bezos said as part of the announcement.