The online retailer predicts $6 billion to $7 billion in sales in the final quarter of 2008. Depending on where sales fall within those estimates, Amazon could see sales growth anywhere from 6% to 23% over the last quarter of 2007.
The company projects year-end net sales between $18.46 billion and $19.46 billion, or an increase of 24-31% compared to 2007. That falls short of previous estimates of up to $20.10 billion for 2008.
Nevertheless, company leaders stressed that Amazon retains value as consumers seek discounts.
"We remain relentlessly focused on delivering value to customers through lower prices, improved selection and our free shipping offers, including Amazon Prime," Jeff Bezos, founder and CEO of Amazon, said. "Customers saved more than $700 million with our global free-shipping programs over the past twelve months, and we expect more customers than ever will take advantage of the benefits of Amazon Prime this holiday season."
The company reported growth in Kindle, Worldwide Media, electronics, and foreign sales, which boosted profits as the U.S. dollar weakened.
Earlier in the week, Amazon said it had acquired Reflexive Entertainment for an undisclosed sum. The site offers free PC game downloads, reviews, tips and tricks, and personal recommendations of casual games
"What this means for all you developers is that it's time to get excited about your future with Reflexive," said CEO Lars Brubaker in a blog to developers. "We can't talk about everything yet, but we'll be in touch shortly with more information. All of the features that you know and love about GameCenterSolution will still be available to you now and in the future, and you can continue to submit games through the Reflexive site."
SaaS As Innovation Driver?Software as a service is the clear No. 1 way enterprises consume cloud. InformationWeek's SaaS Innovation Survey reveals three tips to get the most from SaaS: Make it a popularity contest. Have an escape plan. And remember that identity is the new perimeter.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of October 9, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."