Amazon rides a razor-thin wave back to profit in first full quarter of new Kindles

Bezos Kindle Fire

Amazon nailed its own projections on sales revenue and whipped right past them back to an operating income gain of $ 405 million in the fourth quarter of 2012. In total, Amazon posted a net income of a positive $ 97 million for the quarter, canceling out some of its earlier losses for net loss of $ 39 million for fiscal 2012.

CEO Jeff Bezos also noted that the results show Amazon’s business itself is changing. “We’re now seeing the transition we’ve been expecting,” he said. “After 5 years, e-books is a multi-billion dollar category for us and growing fast — up approximately 70 percent last year. In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5 percent. We’re…

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