Amazon soars above market expectations

Profits treble in 'quietest quarter'

Amazon's international sales are up 31 per cent this quarter

Online retailer Amazon has trebled profits for the second quarter, traditionally the quietest for retailers.

Profits and sales have both risen higher than predicted, with profits up from $22m (£10.7m) to $78m (£37.8m) and sales increasing 35 per cent to $2.9bn (£1.4bn).

Amazon has now raised its full year sales forecast to between $13.8bn (£6.7bn) and $14.3bn (££7bn) and profits forecast to as much as $640m (£312m).

International sales, which include the firm’s UK operations, are up 31 per cent to $1.3bn (£633m).

Electronic products and other non-media items made the most significant gains - up 55 per cent to $970m (£472.7m) - and now account for 34 per cent of all business.

Media sales, which include Amazon’s book division, have risen 27 per cent to $1.8bn (£877m). Book sales also include more than two million pre-orders for the new Harry Potter book.

Amazon is continuing to expand its operations, with plans to launch a digital music store that will allow customers to download music without any digital copyright protection.