“We’re incredibly excited with Kindle, because we see that customers are buying a lot more books,” said Chief Financial Officer Tom Szkutak. “We love the potential that it has long-term. And we continue to invest in that business.”
Wall Street analysts are always looking for more numbers on Amazon’s new businesses like Kindle and cloud computing.
“As more media products are sold in digital formats, Amazon’s physical warehouses and distribution network may not provide the same advantages,” investment researcher Morningstar said in a profile of the company. “Although the company is off to a good start with the Kindle, digital initiatives for music and movies have fared poorly.”
SPDR S&P Retail ETF (NYSEArca: XRT), which includes Amazon in the portfolio, is up about 10% so far this year.