Think Apple is the only one reporting record-breaking earnings these days? Think again.
Backed by the amazing growth of the Kindle, Amazon today released their second quarter earnings which ended June 30, 2011: $9.9 billion in revenue, well ahead of analysts expectations, which is a 51% year over year growth compared to $6.57 billion during the same quarter in 2010. This makes it their fastest growth rate in nearly 11 years, since quarter three of 2000.
Amazon continues to drive sales for their popular e-reader device, the Kindle. With the recent announcement of their new Kindle Textbook Rental Service which allows students to save up to 80% from discounted textbooks, Amazon hopes to maintain the transition from traditional textbooks to digital e-readers.
Another interesting highlight mentioned in their press release was that their Kindle 3G with special offers, which retails for $139, is now their best-selling Kindle device. Apparently, people don’t mind viewing a couple ads if the cost savings is justifiable. Amazon explains further….
With Kindle 3G, there’s no wireless set up and no paying or hunting for Wi-Fi hotspots. Kindle 3G’s always-on global wireless connectivity means that wherever you are, you can download books and periodicals in less than 60 seconds and start reading instantly. Amazon pays for Kindle’s 3G wireless connectivity, which means the convenience of 3G comes with no monthly fees, data plans or annual contracts.
On paper, that certainly sounds like something useful to have. I personally do not own a Kindle, nor have I seen their ad-supported device in person before. Being able to download any Kindle book onto my device on the whim without having to pay the expensive monthly 3G service fee? Sign me up!