Dive Summary:
- Amazon released its 2012 financials reporting major net sales with $34.81 billion coming from North America, an increase of 30.4% over last year.
- Spending on marketing, technology, order fulfillment, and administration in addition to heavy spending on its Kindle business account for over a $40 million dollar loss.
- As predicted by Amazon CEO Jeff Bezos, physical book sales is was the lowest that it had been in the retailers 17 year history.
From the article:
"...It was another banner year for sales growth for Amazon.com. But in 2012 the world’s biggest online retailer swung from a healthy profit to a nearly $40 million loss as it continues to invest in its Kindle business and global infrastructure..."
