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Tax dodging Amazon announces lower profits

January 30, 2013 By: Dr Search Principal Consultant at the Search Clinic Category: Amazon, Customer Service, Ecommerce, internet, Online Marketing, Search Clinic, Uncategorized

Amazon has announced a sharp fall in profits for the end of 2012.Tax dodging Amazon announces lower profitsNet income for the three months to the end of December was £61.5 million, down from £112 million for the same period in 2011.

The fall came despite an increase in revenues during the period, from £11.08 billion a year ago, to £13.54 billion- a jump of 22%.

That growth came as the world’s largest internet retailer bagged a big share of internet spending during the crucial holiday period.

After reporting the results, Amazon’s shares rose by close to 7%.

“We’re now seeing the transition we’ve been expecting,” said Jeff Bezos, founder and chief executive of Amazon.com.

“After five years, e-books is a multi-billion dollar category for us and growing fast – up approximately 70% last year.

“In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5%.

“We’re excited and very grateful to our customers for their response to Kindle and our ever-expanding ecosystem and selection.”

The Seattle based company also said operating income increased by 56% to £257 million in the fourth quarter.

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