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Amazon 3Q profit jumps 16 percent

The Columbian
Published: October 21, 2010, 12:00am

SAN FRANCISCO (AP) — Amazon says its third-quarter net income rose 16 percent as more shoppers flocked to its online retail site. The results are well ahead of analyst expectations.

For the July-September quarter, Amazon.com Inc. earned $231 million, or 51 cents per share — 3 cents higher than what analysts polled by Thomson Reuters expected, on average. This compares with income of $199 million, or 45 cents per share, a year ago.

Revenue rose 39 percent to $7.56 billion, higher than the $7.36 billion analysts expected.

Revenue from Amazon’s largest sales category, electronics and other general merchandise, shot up 68 percent to $3.97 billion. Revenue from books, CDs, DVDs and other media grew 14 percent to $3.35 billion.

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