Who knew...
Amazon sales pop as Kindle books overtake paperbacks
By Julianne Pepitone, staff reporterJanuary 27, 2011: 6:13 PM ET
NEW YORK (CNNMoney) -- OK, bookworms, now you can declare Armageddon: Kindle e-books have overtaken paperback books as the bestselling type of content in Amazon's bookstore.
Amazon made waves when it announced in July that Kindle content was outselling hardcover books. But industry analysts quickly dismissed that milestone, pointing out that paperback books sell far more copies than pricier hardcovers.
E-books have now vanquished their paperback rivals as well.
"This milestone has come even sooner than we expected -- and it's on top of continued growth in paperback sales," Amazon CEO Jeff Bezos said in a prepared statement.
In fact, for every 100 paperback books sold, Amazon has sold 115 Kindle books since the beginning of the year, the company said.
Amazon reported record quarterly sales of $13 billion for the three months that ended Dec. 31, up 36% compared to last year. Earnings also topped Wall Street's estimates, with net income of $416 million, or 91 cents a share.
Analysts polled by Thomson Reuters were looking for 88 cents a share on $13 billion in revenue.
Sales in the Canada and the United States jumped almost 50% from a year ago, while international sales climbed 26%.
Though the results were solid, investors were rattled by the online retailer's guidance for the current quarter.
Amazon expects sales to come in between $9.1 billion and $9.9 billion, but it anticipates that its operating income will decline. It set a very wide range for its forecast, saying it expects operating income of $260 million to $385 million -- which would be down a mild 2% or a whopping 34% compared to last year.
Shares of Amazon (AMZN, Fortune 500) tumbled almost 9% in after-hours trading, after rising more than 5% during the market's open.
For the full year, the Seattle-based company booked a profit of $1.15 billion, up 28% from 2009, as sales increased 40% to $34.2 billion
Amazon has never revealed sales figures for the Kindle. Price cuts late last year brought the most basic version down to $139, and Kindle apps are now available for a wide variety of devices -- including the iPhone, iPad as well as BlackBerry and Android phones.
Beyond the Kindle, other dedicated e-readers include the Barnes & Noble (BKS, Fortune 500) Nook, the Sony (SNY) Reader, and Borders' Kobo.
Everybody I know that has a Kindle really likes it and says it's the best thing since sliced bread.. even my Mom has one. I guess one could attribute the rise in downloads to the huge amount of people that got a Kindle for Christmas, but I think it's telling that electronic books have been adopted so readily by such a large number of people. Interesting.
Amazon sales pop as Kindle books overtake paperbacks
By Julianne Pepitone, staff reporterJanuary 27, 2011: 6:13 PM ET
NEW YORK (CNNMoney) -- OK, bookworms, now you can declare Armageddon: Kindle e-books have overtaken paperback books as the bestselling type of content in Amazon's bookstore.
Amazon made waves when it announced in July that Kindle content was outselling hardcover books. But industry analysts quickly dismissed that milestone, pointing out that paperback books sell far more copies than pricier hardcovers.
E-books have now vanquished their paperback rivals as well.
"This milestone has come even sooner than we expected -- and it's on top of continued growth in paperback sales," Amazon CEO Jeff Bezos said in a prepared statement.
In fact, for every 100 paperback books sold, Amazon has sold 115 Kindle books since the beginning of the year, the company said.
Amazon reported record quarterly sales of $13 billion for the three months that ended Dec. 31, up 36% compared to last year. Earnings also topped Wall Street's estimates, with net income of $416 million, or 91 cents a share.
Analysts polled by Thomson Reuters were looking for 88 cents a share on $13 billion in revenue.
Sales in the Canada and the United States jumped almost 50% from a year ago, while international sales climbed 26%.
Though the results were solid, investors were rattled by the online retailer's guidance for the current quarter.
Amazon expects sales to come in between $9.1 billion and $9.9 billion, but it anticipates that its operating income will decline. It set a very wide range for its forecast, saying it expects operating income of $260 million to $385 million -- which would be down a mild 2% or a whopping 34% compared to last year.
Shares of Amazon (AMZN, Fortune 500) tumbled almost 9% in after-hours trading, after rising more than 5% during the market's open.
For the full year, the Seattle-based company booked a profit of $1.15 billion, up 28% from 2009, as sales increased 40% to $34.2 billion
Amazon has never revealed sales figures for the Kindle. Price cuts late last year brought the most basic version down to $139, and Kindle apps are now available for a wide variety of devices -- including the iPhone, iPad as well as BlackBerry and Android phones.
Beyond the Kindle, other dedicated e-readers include the Barnes & Noble (BKS, Fortune 500) Nook, the Sony (SNY) Reader, and Borders' Kobo.
Everybody I know that has a Kindle really likes it and says it's the best thing since sliced bread.. even my Mom has one. I guess one could attribute the rise in downloads to the huge amount of people that got a Kindle for Christmas, but I think it's telling that electronic books have been adopted so readily by such a large number of people. Interesting.
Kel (formerly Tristan de Luna)
Si hoc legere scis nimium eruditionis habes.
Politics: A strife of interests masquerading as a contest of principles. -- Ambrose Bierce
Time is a confidence game invented by the Swiss.
Si hoc legere scis nimium eruditionis habes.
Politics: A strife of interests masquerading as a contest of principles. -- Ambrose Bierce
Time is a confidence game invented by the Swiss.
Kindle books overtake paperbacks
- 27/01/2011 11:21:07 PM
1180 Views
Any idea about how well the Nook Books are doing? *NM*
- 28/01/2011 12:25:53 AM
467 Views
Barnes & Noble also said it now sells more digital books than physical books on its Web site.
- 28/01/2011 04:47:15 AM
899 Views
Terrible news. I may be a fogey who hates change, but gosh darnit, I really hate this change. *NM*
- 28/01/2011 03:17:29 AM
425 Views
I think it's completely unsurprising that an online bookseller would sell more ebooks.
- 28/01/2011 10:05:10 PM
805 Views
No!
- 29/01/2011 05:46:00 PM
885 Views
Re: No!
- 31/01/2011 06:35:07 AM
861 Views
You can wrap your Kindle in clingfilm (gladwrap) or a transparent plastic bag. 
*NM*
- 31/01/2011 12:34:00 PM
410 Views
*NM*
- 31/01/2011 12:34:00 PM
410 Views
Of course Amazon is selling more e-books than printed books. They're the main e-book seller.
- 30/01/2011 11:39:12 AM
806 Views
the free books don't count as a sale
- 31/01/2011 08:01:39 AM
853 Views
Where does it say they aren't counting the free ones?
- 31/01/2011 08:10:23 AM
833 Views
I guess you're assuming it does and I'm assuming it doesn't.
- 31/01/2011 08:14:52 AM
882 Views
When you buy one of the free books it does have a price on the page.
- 31/01/2011 08:38:56 AM
796 Views