Home Amazon Third Quarter Profits Drop 73%

Amazon Third Quarter Profits Drop 73%

Amazon just released its third quarter sales, indicating that net income is at $63 million, or $0.14 a share, down from $231 million, or $0.51 a share a year ago. This is a 73% drop in quarterly profit from the third quarter of 2010. Thomson Reuters I/B/E/S reports that analysts expected Amazon’s third-quarter earnings to land at 24 cents per share on a revenue of $10.95 billion.

Amazon has been focusing its spending on the tablet, among other long-term projects. It launched the Kindle Fire Tablet on September 28, which remains Kindle’s biggest order day to date.

Despite a drop in profits, Amazon added more than 8,000 new workers in the third quarter, resulting in 50,000 full- and part-time employees. This is an increase of 136% over the past two years.

Amazon.com added more than 8,000 new workers in the third quarter, bringing its total employment to more than 50,000 full- and part-time employees for the first time in its history.

According to the third quarter statement, operating income (loss) is expected to be between $(200) million and $250 million, or between 142% decline and 47% decline compared with fourth quarter 2010.

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Get the biggest tech headlines of the day delivered to your inbox

    By signing up, you agree to our Terms and Privacy Policy. Unsubscribe anytime.

    Tech News

    Explore the latest in tech with our Tech News. We cut through the noise for concise, relevant updates, keeping you informed about the rapidly evolving tech landscape with curated content that separates signal from noise.

    In-Depth Tech Stories

    Explore tech impact in In-Depth Stories. Narrative data journalism offers comprehensive analyses, revealing stories behind data. Understand industry trends for a deeper perspective on tech's intricate relationships with society.

    Expert Reviews

    Empower decisions with Expert Reviews, merging industry expertise and insightful analysis. Delve into tech intricacies, get the best deals, and stay ahead with our trustworthy guide to navigating the ever-changing tech market.