Retailers shift their ad spending from TV, radio and print ads to digital ads.
Third quarter sales at Amazon.com Inc. grew 33% to $851 million from $639 million in the third quarter of 2001.
Third quarter sales at Amazon.com Inc. grew 33% to $851 million from $639 million in the third quarter of 2001, the company reported today. Sales exceeded the company’s expectations of $780 million to $830 million.
Net loss was $35 million vs. a third quarter 2001 net loss of $170 million. Operating loss was $10 million, including restructuring-related and other charges of $37 million, compared with a loss of $70 million a year ago.
"We`ve lowered prices five times over the last 15 months, and simply put, it`s working," said Jeff Bezos, founder and CEO of Amazon.com. "Based on the results so far, we`ve made the decision to leave Super Saver Shipping--free on orders over $25--in place at least through the holidays."
International sales, representing Amazon`s U.K., German, French and Japanese sites, grew 90% to $264 million.
By segments, books, music and DVD/video sales grew 17% to $412 million; electronics, tools and kitchen sales grew 25%, reaching $129 million.
The company now says it expects fourth quarter sales to reach $1.325 billion to 1.425 billion.