'Accelerating' Kindle sales boost Amazon's financial results

Positive results

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Amazon's latest financial results have underlined the rude health of the internet giant, with sales of the Kindle ereader 'accelerating'.

Although net income fell to 41 cents a share year on year, Amazon's quarterly results were better than analysts had predicted and sales have soared by 51 per cent compared to 2010.

Amazon stated that the Kindle ebook reader has been a key seller, although it did not drill down into figures besides saying that the sales accelerated compared to the first quarter of this year.

Innovation driving

"Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we've seen in over a decade," said Jeff Bezos, founder and CEO of Amazon.com.

"Kindle 3G with Special Offers has quickly become our bestselling Kindle… Customers love the convenience of a 3G reader - no hunting for or paying for Wi-Fi hotspots. Amazon picks up the tab for the 3G wireless, so you have no monthly payments or annual contracts."

Amazon also pointed to the launch of Kindle Textbook rental and the 950,000 books now available on the Kindle store as boosting the ereader's success.