Amazon profit doubles on improved sales

Amazon profit doubles on improved sales

Amazon.com is the web’s largest retailing store and the company has just come out with their latest quarterly revenue report.

The company stated that their fourth-quarter profit more than doubled on higher holiday sales. The news however failed to impress the market analyst as their share still fell 11 percent in late U.S. trading.

Amazon’s net income touched $207 million, or 48 cents a share. This is much better compared to earnings of $98 million, or 23 cents in the same period previous year.

Amazon benefitted from the improved sales in the holiday season last year. The company also launched their own digital media store named Amazon MP3. They are now expected to launch international versions of this store.