By Jeremy Greenfield, Editorial Director, Digital Book World, @JDGsaid
The Kindle Fire and third-party sellers helped Amazon reach $17.43 billion in fourth quarter 2011 revenue, a 35% increase over fourth quarter 2010 revenue, according to a financial statement from the company.
Net income for the quarter was $177 million, a decrease of 58% from its 2010 fourth quarter.
“We are grateful to the millions of customers who purchased the Kindle Fire and Kindle e-reader devices this holiday season, making Kindle our bestselling product across both the U.S. and Europe,” said Jeff Bezos, founder and CEO of Amazon.com in the statement. “Our millions of third-party sellers had a tremendous holiday season with 65% unit growth and now represent 36% of total units sold.”
For the full year, Amazon had $48.08 billion in sales, at 41% increase over its $34.20 billion in 2010 revenue. Net income decreased 45% to $631 million in 2011 from $1.15 billion in 2010.
Kindle unit sales, including the Kindle fire, increased by 177% over the nine week holiday period in 2011 versus the same period last year. Since it was introduced four months ago, the Kindle Fire has been the most gifted and most wished for product across all Amazon products, according to the company.
Amazon ramped up its headcount significantly in 2011, growing to 56,200 employees versus 33,700 a year ago.
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