Full news story on Amazon: Ebooks soaring, print slowing; net loss $39m.
Amazon: Ebooks soaring, print slowing; net loss $39m
Jan 30 2013
In a statement accompanying its fourth quarter and full year results for 2012, Amazon founder Jeff Bezos summed up where he sees the future of book retailing heading - especially for his company. "We're now seeing the transition we've been expecting," said Bezos. "After 5 years, eBooks 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%."
For the full year, net sales increased 27% to $61.09 billion, and Amazon reported a net loss of $39 million compared with net income of $631 million in 2011.
British Parliament asks Amazon to clarify why it pays $9 million in income tax on $23 billion of UK sales.(May 20 2013) Amazon will be called back to give further evidence to members of the British Parliament "to clarify how its activities in the U.K. justify its low corporate...