Amazon: Ebooks soaring, print slowing; net loss $39m

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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.

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