Amazon's profits grow
E-commerce
31 January 2008
Internet retailer Amazon has seen its operating cash flow double to $1.41 billion (£0.7 billion) in 2007.
The online sales giant has released its 2007 profit report, which showed the figure has jumped from $710 million (£350 million) and its net sales were up 39 per cent.
Jeff Bezos, founder and chief executive officer, was in no doubt why the company had seen such improvement: "In our view, these unusual financial results are driven by one thing: continuously improving the customer experience."
The company's operating income increased by $655 million (£325 million) and net income was up by 150 per cent.
Amazon has moved from selling only books and CDs, to offering MP3 downloads. It has also released a wireless internet 'book' that downloads titles from the firm's online collection.
Cheaper computers and faster connection speeds have helped increase sales – many traditional high street retailers have also launched sites to embrace the success of digital commerce.
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