SAN FRANCISCO (AP) -- Amazon says its third-quarter net income rose 16 percent as more shoppers flocked to its online retail site. The results are well ahead of analyst expectations.
For the July-September quarter, Amazon.com Inc. earned $231 million, or 51 cents per share - 3 cents higher than what analysts polled by Thomson Reuters expected, on average. This compares with income of $199 million, or 45 cents per share, a year ago.
Revenue rose 39 percent to $7.56 billion, higher than the $7.36 billion analysts expected.
Revenue from Amazon's largest sales category, electronics and other general merchandise, shot up 68 percent to $3.97 billion. Revenue from books, CDs, DVDs and other media grew 14 percent to $3.35 billion.