Amazon profits jump 62 per cent

Both profits and sales have risen radically for Amazon in the third quarter of this year, and it seems Kindle is the product to thank.

Net profit for the company rose by 62 per cent, compared to the same period last year, to make the company $199 million (122 million).

Sales also jumped, albeit more modestly, with a rise of 28 per cent to $5.45 billion.

Jeff Bezos, founder and chief executive of Amazon.com, was pleased with the results and gave the Kindle the credit for its financial success.

"Kindle has become the number one bestselling item by both unit sales and dollars not just in our electronics store but across all product categories on Amazon.com," he said in a statement.

"It's also the most wished for and the most gifted. We are grateful for and energised by this customer response."

The company also predicted strong Christmas sales in the coming quarter, which helped raise its share price by eight per cent.

Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.

Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.