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Sales at Amazon.com rise 44% in Q3
But profits plunge 73%
By: Diamond World News Service
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Oct 28 2011 12:01PM
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Reference: 6421  

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In the three months ending September 30, 2011 ( third quarter of the year), online retail giant Amazon.com noted a good 44 percent spurt in sales on y-o-y basis to the value of $10.9 billion. Although this impressive sales growth could not save the drop of 73 percent in the company’s profits, which valued $63 million at the end of the said three months. Also, the cost of sales rose around 44 percent to $8.3 billion.

For the fourth quarter ahead, the company is maintaining an optimistic outlook of earning between 27 percent and 44 percent rise in sales.

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