Amazon Has First Non-Holiday Quarter ProfitAmazon.com reported third quarter profits of $16 million yesterday. It was the first non-holiday profit for the online retailer.
Last year, Amazon reported a third quarter loss of $35 million. Free shipping incentives and the launch of a sporting goods store were two reasons that Amazon cited for the strong earnings. Sales were $1.13 billion in the quarter compared to $851 million during last year's third quarter.
Amazon said yesterday it expects revenue of $1.76 billion to $1.91 billion for the holiday season, which some analysts said could lead to the retailer posting its first-ever full-year profit.