Amazon exceeds analysts’ estimates

AMAZON.COM, the world’s largest online retailer, reported profit and sales that beat analysts’ estimates after its Kindle e-reader and digital-media services helped fuel growth. The shares jumped in late trading.

Second-quarter net income was $191 million (€131m), or 41 cents a share, compared with $207m, or 45 cents, a year earlier, the Seattle-based company said last night. That compared with 34 cents that analysts predicted. Net sales rose to $9.91 billion, compared with the $9.38bn projection.

Chief executive Jeff Bezos has invested in online entertainment services and opened distribution centres to increase growth. Sales of the Kindle electronic reader also accelerated last quarter as more consumers shifted to digital books.