Amazon Earnings Point to Record eBook Sales

 Amazon Earnings Point to Record eBook SalesOn Wednesday, Amazon reported financial results for the fourth quarter of 2012.

According to the announcement straight from Amazon CEO Jeff Bezos, ebooks now encompass “a multi-billion dollar category.”

All told, eBook sales climbed by a staggering 70 percent in 2012.

“In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5 percent,” Bezos added, not sounding disappointed in the least.

Net sales increased 22% to $21.27 billion in the fourth quarter, compared with $17.43 billion in fourth quarter 2011. Excluding the$178 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales grew 23% compared with fourth quarter 2011.

“We’re excited and very grateful to our customers for their response to Kindle and our ever expanding ecosystem and selection,” Bezos added.

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