Amazon sales increase 22%

From The Bookseller

Amazon has reported a 22% rise in sales over the last three months, the same growth increase as the previous quarter. The internet giant said it achieved a net sales hike of 22% to $16.07 billion (£10.41bn) in the first three months to 31st March 2013, compared with $13.18 billion (£8.5bn) in the first quarter of 2012.

It also reported a rise in gross profit margin, but net income decreased by 37% to $82million (£53m), or $0.18 a share.

Amazon’s results also revealed the company spent 31.6% more on marketing in the last quarter compared with the same quarter in 2012, shelling out $632m (£409.5m).

 Digital titles in the Kindle Owners’ Lending Library have increased to over 300,000 books.