Kindle a bright spot in Amazon's negative earnings report

by TabTimes Staff

July 25 2013

Amazon’s stock price hit a record high this past quarter, but the company reported a loss in its earnings report Thursday afternoon despite a jump in revenues.

The ecommerce giant said it lost $7 million on revenue of $15.7 billion, compared to earnings of $7 million on revenue of $12.83 billion this time last year. 

In its earnings release Amazon highlighted Kindle: “This past quarter, our top 10 selling items worldwide were all digital products – Kindles, Kindle Fire HDs, accessories and digital content,” said CEO Jeff Bezos.

Amazon launch the Kindle Paperwhite e-reader and Kindle Fire HD tablet in China in June, and said, “Customer response to this launch significantly exceeded expectations and product went out of stock in many retail outlets within the first week.” 

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