Amazon’s Net Sales Up 27% In Q3

Amazon’s net sales increased 27 percent from $10.88 billion to $13.81 billion in the third quarter of 2012, according to an earnings report released by the company today.

Amazon CEO Jeff Bezos commented on the news stating, “Our approach is to work hard to charge less. Sell devices near breakeven and you can pack a lot of sophisticated hardware into a very low price point. And our approach is working – the $199 Kindle Fire HD is the #1 bestselling product across Amazon worldwide.”

During the quarter, Amazon released a new line of Kindle devices, and expanded the Kindle Store to Japan. The company did not break out revenues from the Kindle store or for Kindle devices, though the company did report that worldwide media sales grew 11 percent to $4.60 billion. The company also reported that worldwide electronics and other general merchandise sales grew 36 percent to $8.56 billion.