Amazon Posts Solid Gains

Amazon.com has posted a third-quarter profit increase of 68 percent, a signal that things could be getting a lot better for online retailers as the holiday season remains just around the corner. A 44 percent rise in sales of electronics and general merchandise was one of the main factors in Amazon’s strong performance, a category that now comprises 43 percent of Amazon’s total sales.
The company also posted a 17 percent increase in sales of media, a figure that was surprisingly low in the second quarter because of disappointing video game sales. This result was strengthened by the release of several popular …read more