Amazon has made its Q4 2011 earnings public, and while net sales increased 35 percent to $17.43 billion, the company missed analyst estimates of $18.26 billion. In addition, the online retailer’s net income fell 58 percent to $177 million compared to $416 million a year ago. Still, the company’s year was largely full of highlights, culminating in the release of its Kindle Fire – sales for all Kindle units (both e-reader and tablet) increased 177 percent year-over-year.
“We are grateful to the millions of customers who purchased the Kindle Fire and Kindle e-reader devices this holiday season, making Kindle our bestselling product across both the U.S. and Europe,” said Jeff Bezos, founder and CEO of Amazon.com. “Our millions of third-party sellers had a tremendous holiday season with 65% unit growth and now represent 36% of total units sold.”
Even 17 weeks on, the Kindle Fire is still the number one bestselling, most gifted and most wished for product on Amazon.com. With such an enormous increase in Kindle demand, Amazon revealed its Android app store nearly tripled during Q4 compared to the previous quarter. In fact, consumers downloaded more from the Amazon Appstore during Q4 than all three previous quarters combined.
Other highlights from 2011 included: videos purchased or rented from Amazon Instant Video more than doubled over 2012; and segment sales ended at $9.90 billion, up 37 percent from the same time last year.
While there have been no official Kindle Fire figures from Amazon, it still seems to be doing quite well as the device is the website’s number one sought after product. One analyst even believes Fire sales are in the 6+ million range. For a full rundown, check out Amazon’s official press release.