Pofits plunged 73 percent to $63 million
Amazon.com reported that sales for the third quarter, which ended on September 30, 2011, rose 44 percent year on year to $10.9 billion and cost of sales rose just as much to $8.3 billion. However, profits plunged 73 percent to only $63 million.
The online retailer anticipates fourth quarter sales to increase between 27 percent and 44 percent and it could record an operating loss of as much as $200 million or an income of as much as $250 million. The guidance included approximately $200 million for stock-based compensation and amortization of intangible assets.