Amazon.com beats Street, may see blow-out holiday
Amazon.com Inc
The company said its Kindle electronic reader had become its single best-selling item in terms of units and dollars.
It said net profit in its third quarter was $199 million, or 45 cents per share, from $118 million, or 27 cents per share, a year earlier.
Analysts, on average, had been expecting earnings of 33 cents per share, according to Thomson Reuters I/B/E/S.
Revenue rose 28 percent to $5.45 billion, the Seattle-based company said, compared to the Wall Street average estimate of $5.03 billion.
Wall Street expectations for Amazon have been high, with the retailer expected to outpace the market during the crucial holiday season. However, a recent price war with Wal-Mart Stores Inc
For the key holiday fourth quarter, Amazon said it sees revenue to range between $8.125 billion and $9.125 billion, compared with analysts' expectations for $8.13 billion.
The company forecast operating profit between $300 million and $425 million.
Shares -- which are up 82 percent since January -- rose 8 percent in after-hours trade.
(Reporting by Alexandria Sage, editing by Leslie Gevirtz)
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