A week ago, Amazon released its third-quarter earnings report, and the company’s earnings came in at $1.47 billion, well short of the company and analysts’ expectations.
In other words, Amazon missed its revenue guidance.
The reason for the miss was the company added no new book sales in the quarter, which is normally a good sign.
However, in its earnings announcement, Amazon said it “could not be more excited” to have more book sales this quarter, citing the strong momentum of Kindle, Kindle Voyage and Fire tablets.
“This quarter we will be bringing new titles to our platform and more titles to Kindle and Fire devices, creating more choices for Amazon customers and partners,” Amazon CEO Jeff Bezos said in the earnings call.
“This is good news for customers, for publishers, and for Amazon.”
However, as I have previously reported, Amazon has been trying to make up for lost sales with its new publishing initiatives, including its Amazon Prime service and Kindle Books, which launched last month.
Amazon also launched its new subscription services, Kindle Unlimited and Kindle for Business.
In its earnings call, Amazon also announced that it was giving away Kindle books for free to people who subscribe to its Kindle e-reader and Kindle books, which are priced at $9.99 a month.
And Amazon said that it is working with Apple on new devices for people who prefer the Kindle for Work program, a way for Apple to give customers a new way to access the company as well as Apple’s cloud storage service.
“We’re excited to be able to give our readers a new platform to access our products and services and also help our partners make the most of the new opportunities that they’re creating,” Bezos said.
“When you look at Amazon’s portfolio, you have to wonder why it hasn’t done this before,” says Andrew Zimbalist, an analyst at research firm MoffettNathanson.
“It seems to be a matter of being able to deliver more books on the Kindle.
This isn’t an issue for the Kindle, it’s an issue with the Kindle.”
Zimbalest said that if Amazon can deliver books faster, it would be able give readers an easier time shopping for books on Amazon, which makes sense given that Amazon is one of the fastest growing online retailers.
“Amazon’s new Kindle publishing platform gives readers a better experience, not only for the purchase of books, but also for reading Kindle books,” he says.
“The new Kindle is one step closer to becoming a mainstream digital reading device and a major part of the digital landscape, making it easier for Amazon to expand its customer base.”
In the earnings announcement on Tuesday, Bezos said that Amazon’s revenue growth has been “substantial.”
“Our year-over-year revenue growth in Q3 2017 was significantly greater than expected, reflecting our strong book sales and digital distribution platform,” Bezos wrote.
“Our year over-year revenues for the period of 2017 have increased by more than $10 billion, and our total operating profit for the quarter was $8.4 billion, more than double our guidance.”
Amazon did not provide a comparable revenue growth for the first half of this year.
However the company reported that revenue for the year grew 8 percent year over year to $11.7 billion.
The Amazon publishing platform includes Amazon’s Kindle Books app, Kindle for iPad, Kindle books on Kindle, and Kindle eBooks.
Amazon says that the Kindle Books apps are the fastest-growing Amazon services and the largest part of its overall book sales.
Amazon’s publishing platforms also include Kindle Music, Kindle Music Unlimited, Kindle Publishing and Kindle Subscriptions, which allow customers to read Kindle books and audiobooks on Amazon’s streaming service, Amazon Prime.
Amazon Prime is a subscription service that allows customers to watch movies and TV shows on Prime Video, as well a music streaming service called Prime Music.
Amazon also announced its Kindle Books and Kindle Publishing apps.
The new Kindle books are priced more competitively, and Amazon says the Kindle books offer better access to titles in the Kindle store.
Amazon’s digital publishing platforms include Amazon Books and Amazon Publishing, which offer more titles on Kindle and other Kindle digital platforms.
In addition, Amazon is launching a new Kindle eLearning product called Kindle Unlimited, which will be available for purchase at no cost to Amazon’s Prime members.
Kindle Unlimited is a way to take advantage of the Kindle app and Kindle devices to learn and study new content.
Amazon is also working on a new ebook reading app called Kindle Books for iOS, which could launch this year, and it will also offer access to books and ebooks from other Amazon titles.
In terms of its ebook publishing platform, Amazon says it has delivered more than 2 million titles and more than 1.3 million ebooks to Kindle, including more than 50,000 titles from titles like The Hunger Games, Fifty