Amazon Reports 34% Revenue Increase, Kindle Fire Nabs Half of Android Tablet Market
April 27, 2012 10:13 AM
comment(s) - last by
Amazon CEO Jeff Bezos
ComScore recently released a study showing that the Kindle Fire made up more than half of the Android tablet market with 54.4 percent in February 2012
) released its Q1 2012
for the quarter ended March 31, 2012, where it saw a decline in earnings but managed to top previous forecasts.
According to the report, Amazon's net sales increased 34 percent to $13.18 billion in Q1 2012 compared to $9.86 billion in Q1 2011. Operating cash flow also increased 1 percent to $3.05 billion for the trailing 12 months compared to $3.03 billion for the trailing 12 months ended March 31, 2011.
Operating income dropped from $322 million in Q1 2011 to $192 million in Q1 2012. Net income also took a hit, falling from $201 million (44 cents per diluted share) in Q1 2011 to $130 million (28 cents per diluted share) in Q1 2012, which is a 35 percent dip.
Common shares also slid slightly from 466 million for the quarter ended March 31, 2011 to 464 million for Q1 2012.
Amazon even topped previous revenue forecasts, where investors expected Amazon to post earnings of 7 cents per share and a revenue of $12.9 billion. The
stock is up nearly 14 percent today
Amazon's claim to fame at the moment is its Kindle line, which includes various e-readers and its
new Kindle Fire tablet
. These products have given Amazon a huge sales boost, where the Kindle Fire alone remains the No. 1 bestselling item on Amazon.com.
"I’m excited to announce that we now have more than 130,000 new, in-copyright books that are exclusive to the Kindle Store – you won’t find them anywhere else," said Jeff Bezos, founder and CEO of Amazon.com. "They include many of our top bestsellers – in fact, 16 of our top 100 bestselling titles are exclusive to our store. If you’re an Amazon Prime member, you don’t even need to buy these titles – you can borrow them for free – with no due dates – from our revolutionary Kindle Owners’ Lending Library.
"The Kindle Owners’ Lending Library is heavily used by Kindle owners, and it has extremely unusual features that both authors and customers love. Every time you borrow a book, the author gets paid – and we have an inexhaustible supply of each title so you never have to wait in a queue for the book you want. Kindle is the bestselling e-reader in the world by far, and I assure you we’ll keep working hard so that the Kindle Store remains yet another reason to buy a Kindle!”
It's not hard to see why Bezos is so enthusiastic about the Kindle line. ComScore recently released a study showing that the
Kindle Fire made up more than half of the Android tablet market
with 54.4 percent in February 2012. This is a significant increase from December 2011, where the Kindle Fire captured 29.4 percent of the market, and from January 2012, where it grabbed 41.8 percent of the Android tablet market.
Looking forward, Amazon predicts that net sales will land between $11.9 billion and $13.3 billion for Q2 2012, which would be a 20 to 30 percent increase from Q2 2011. The company also sees an operating loss between $260 million and $40 million for the next quarter, which would be a 229 percent and 80 percent drop from Q2 2011.
This article is over a month old, voting and posting comments is disabled
I wish you'd stop with the business reporting
4/27/2012 11:10:01 AM
Every time you report financials, you miss the point. Stock is up 17% today, yet you report this massive catastrophic drop in profit that scared investors. Amazon trades on revenue multiples, not profit. They have so many one time expenses from re-investment into the company that profit isn't a good indicator. It's trading multiples are ridiculously high.
RE: I wish you'd stop with the business reporting
4/29/2012 10:40:57 PM
It is kind of like going to a seafood restaurant right on the wharf and ordering a steak, huh?
"Well, there may be a reason why they call them 'Mac' trucks! Windows machines will not be trucks." -- Microsoft CEO Steve Ballmer
Kindle Fire Moves 4.7 Million Units, Cuts Into iPad's Market Share
March 14, 2012, 11:29 AM
Amazon Profit Drops in Q4 2011 Earnings Report
February 1, 2012, 10:42 AM
Twitter Senior VP: "Diversity is Important, But We Can’t Lower the Bar"
November 9, 2015, 9:59 AM
CNN Resorts to Internet Censorship to Promote Clinton Over Senator Sanders
October 15, 2015, 2:47 PM
Breaking Bad: How to Crash Google's Chrome Browser With Just 8 Characters
September 23, 2015, 11:08 AM
Quick Note: Amazon UK Offers £10 Back on Any Order £50 or Over
August 3, 2015, 12:05 PM
Editorial: Reddit Allows Itself to be Hijacked as a Hate Platform For Racist Bigots
July 21, 2015, 6:32 PM
Mozilla and Facebook to Adobe: It's Time to Kill Flash
July 20, 2015, 6:30 PM
Most Popular Articles
DHS and TSA: Whoops, We Missed That 73 Airport Employees May be Terrorists
November 19, 2015, 2:16 PM
iPhone 7 May Pack 3-4 GB Memory, More Storage; 4-Inch Comeback is Rumored
November 20, 2015, 10:12 PM
Glenn Beck's Attempt at Anti-Refugee Meme Proves He's Really, Really Dumb
November 18, 2015, 4:17 PM
Jumbo Joust: iPad Pro vs. Surface Pro 3 vs. Surface Pro 4
November 11, 2015, 1:00 AM
True Beef or Sloppy Sausage? Digging Into the Red Meat + Cancer Correlation
October 27, 2015, 3:05 AM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information