Amazon has favorable Q4

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Amazon.com's net sales for the fourth quarter of 2008 increased 18% to $6.7 billion, compared with $5.67 billion in the same period last year. Excluding the $320 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 24% compared with fourth quarter 2007, the company said.

Operating income was $272 million in the fourth quarter, compared with $271 million in fourth quarter 2007.

Net income increased 9% to $225 million in the fourth quarter, or 52 cents per diluted share, compared with net income of $207 million, or 48 cents per diluted share, in fourth quarter 2007.

“We remain relentlessly focused on serving customers with low prices, great selection and free shipping offers, including Amazon Prime,” said Jeff Bezos, founder and CEO of Amazon.com, in a statement. “We're particularly grateful for the unusually strong demand for Kindle in the fourth quarter.”

For all of 2008, net sales increased 29% to $19.17 billion, or 28% excluding the $127 million favorable impact from year-over-year changes in foreign exchange rates throughout the year, compared with $14.84 billion in 2007.

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