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Amazon profit jumps 71 percent in 4th-qtr, helped by strong holiday sales
By RACHEL METZ
AP Technology Writer
(AP) 07:08:10 AM (ET), Saturday, January 30, 2010 (SAN FRANCISCO)
Amazon.com Inc.'s fourth-quarter earnings skyrocketed 71 percent, as shoppers spent more than ever during a holiday season that improved over the previous year for retailers on and off the Web.

Despite the sluggish economy, Amazon did well throughout the year, drawing shoppers with its Kindle e-reader and deals on an immense selection of goods ranging from alarm clocks to stuffed zebras.

Amazon reported Thursday that this behavior carried through the holiday season, which is typically the busiest time of the year for retailers. And Amazon doesn't expect growth to slow: The company predicted first-quarter revenue that exceeds analyst expectations.

Amazon said it earned $384 million, or 85 cents per share, in the October-December period. That compares with $225 million, or 52 cents per share, in the year-ago quarter, which included a holiday season that Amazon had described then as its "best ever," only to be surpassed by the 2009 holidays.

Revenue rose 42 percent to $9.52 billion. That includes a $200 million contribution from online shoe and apparel store Zappos, which Amazon bought late last year.

The results blasted past estimates of analysts polled by Thomson Reuters, who expected earnings of 72 cents per share on $9.04 billion in revenue.

Amazon forecast revenue of $6.45 billion to $7 billion.
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* Not surprising to see Amazon making a profit. *

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