Amazon's surging profits chomp the credit crunch

by Stevie Smith - Oct 23 2009, 15:15

The merciless grip of recession may still be choking many of the world’s businesses, but it would appear Amazon.com has shaken off the shackles of decline after the online retailer revealed a massive 62 percent profit surge in its third-quarter profits.

Clearly retaining its leading status as a haven of temptation for online consumers everywhere, Amazon earned some $199 million USD throughout the third quarter, which equates to 45 cents per share.

Quarterly revenue was also notable as it surpassed many analyst estimates suggesting Amazon’s Q3 performance would amount to some $5.03 billion USD. In actuality, it notched a 28 percent increase thanks to revenue totalling $5.45 billion USD.

And, far from being a profitable blip on an otherwise dour year, Amazon has indicated that it expects a 20 percent revenue boost in the fourth quarter – somewhere between $8.13 billion USD and $9.13 billion USD, which again surpasses analyst projections of around $8.11 billion USD.

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