You will be redirected back to your article in seconds

Amazon earnings up despite economy

Co.'s net income surged to $158 million

Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online.

Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew 31% to $2.41 billion.

Netco’s strong showing, helped in part by a one-time $53 noncash gain in the sale of its Euro DVD biz, follows mixed results from other tech outfits. Amazon also raised full-year revenue projections, but even its execs cautioned against reading too much into its results about the strength of the economy.

Netco last week a added video-on-demand streaming to its Unbox download offerings. VOD service allows consumers to stream TV episodes and pics immediately. Amazon’s Unbox has yet to take off with consumers. Apple immediately surpassed it after inking a series of rental and sales deals with major studios for their latest movie releases earlier this year.

More Digital

  • Facebook Logo

    #Deletefacebook Didn’t Happen: Facebook Grows Users in Q1, Beats Earnings Estimates

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • snapchat-logo

    Snapchat Considers Tweaking Some of Its Controversial Redesign

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • Janice Lee

    APOS Deals Roundup: Viu Launches 70 Titles, Astro's Tribe Expands in Indonesia

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • Hannah Hart

    Studio71 Signs Hannah Hart, FGTeeV, Loren Gray, Other Creators to Network

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • Peter Thiel Gawker

    Peter Thiel Ends Bid to Buy Gawker

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

More From Our Brands

Access exclusive content