On 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.