Strong sales boost Amazon's results

Amazon.com has reported fourth-quarter 2002 results that came up on top of analyst expectations, thanks to strong holiday sales,...

Amazon.com has reported fourth-quarter 2002 results that came up on top of analyst expectations, thanks to strong holiday sales, steady traffic and increased sales in international markets.

The online retailer reported net income of $2.6m (£1.6m), compared with a net income of $5m for the same period the previous year.

Pro forma net profit for the quarter, which included some interest expense, came in at $75m, compared with $35m for the same period last year.

For the full year, Amazon reported an operating income of $64m on revenues of $3.9bn.

Amazon claimed more than 56 million items were ordered between 1 November and 23 December, and founder and chief executive officer Jeff Bezos said lower prices helped drive results for the quarter.

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