Amazon sales rise as profit dropsApril 28, 2013 - 18:04 AMT PanARMENIAN.Net - Amazon has reported a decline in net income despite a rise in sales during the first three months of 2013, Digital Spy said. The online retail giant's net income reached $82 million (£53m) during the period in question, a year-on-year decline of 37%. However, booming digital sales helped Amazon achieve revenues of $16 billion (£10.3bn) during the quarter, an upturn of 22%. The firm's gross profit margin also rose by 24% to 26.6%. The dip in income has been attributed to its expansion plans and investment in hardware products, specifically new additions to its Kindle line of tablets and e-readers. Amazon has been investing in new warehouses to improve delivery times and is rumoured to be developing a Kindle-branded smartphone, BBC News reports. The firm is also said to be working on a TV set-top box that will stream video over the internet. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |