Amazon is announcing on their corporate news site that their third quarter sales are up to $13.81 billion, (that’s a 27% increase over third quarter last year) but that is apparently considered disappointing, because
“Meanwhile, the company suffered a net loss in the quarter of $274 million, compared to net income of $63 million in the third quarter last year.”
See, it all depends on how you look at it. It’s entirely possible to crow over increased sales, and still take a loss, and not a small one, at that. Digital Book world reports that the Kindle is likely to blame for the loss, but Mashable’s also reporting a $160 million dollar loss on Groupon-clone Living Social. Of course, $160 million and $274 million are both in the category of “a lot of money,” but that’s just a drop in the bucket compared to $13.81 billion-with-a-b.
Oh heck, let’s just get the rest of he bad news over with, and also announce that Amazon has been ordered to pay more VAT. In yesterday’s news I mentioned that Amazon is charging 20% and paying 3%, and GoodEReader.com reports that Luxembourg, where Amazon has its EU headquarters, is required to up the VAT to 15% in no more than 30 days. Read the rest at GoodEReader.com.
I also mentioned that Amazon believes you are only renting your ebooks…what do you think about that? David at Caveat Lector blog has quite a bit to say about that, based on his different take (as a programmer) on the recent locking of user “Linn”s account. His post is very interesting discussion of the opportunity afforded by this news. Read it! It’s good!
For those of you who are interested in the technology of touch screens, Seeking Alpha reports that Amazon has discontinued its Neonode Technology in its lower-end touch screens, and wonders whether other e-readers will follow. I kind of wonder what is going to happen to Neonode, now that its biggest customer has disappeared. I’m always happy to see technology, but a bit sad to see the impending demise of a company.
For Amazon authors, Mark Coker, founder of Amazon competitor Smashwords, thinks “Amazon is playing indie authors like pawns.” I’d be curious to know what others think. As an author who publishes exclusively on KDP – at least for now – his words make me wonder if I should diversify some. Of course, that’s his job as the founder of Smashwords….to get people to come over to his side!
In lighter news, Kindle FreeTime is a Fire HD parental-controls update that Amazon has been promising for a while, but many owners are not too happy about it, according to The Digital Reader. Why? Because what kid in his right mind would want to use a reader that allows no pictures, no music, and no content from anywhere else?
And finally, Digital book World tells us about Amazon’s launch of the Kindle App for Windows 8. According to the article, you might want to beware of bugs.
Whew. My fingers are tired. Does Amazon never sleep? See you in a day or two!