Amazon Misses, Q3 Sales Up 44 Percent To $10.9B; Net Income Down 73 Percent To $63M

Amazon reported third quarter earnings today. Net income decreased 73% to $63 million in the third quarter, or $0.14 per diluted share, compared with net income of $231 million, or $0.51 per diluted share, in third quarter 2010. The e-commerce giant missed Wall Street expectations; analysts expected a profit of $0.25 cents per share on $10.91 billion in revenue. Net sales increased 44% to $10.88 billion in the third quarter, compared with $7.56 billion in third quarter 2010. Operating income was $79 million in the third quarter, compared with $268 million in third quarter 2010.

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