Harry Potter Levitates Amazon Revenue

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Harry Potter Levitates Amazon Revenue

by Terrence O'Brien, posted Jul 25th 2007 at 12:03PM

Who knew Harry Potter could exert control over the stock market? Amazon posted an increase in revenue of 35 percent this quarter, based heavily on traffic driven to the site by the impending release of 'Harry Potter and the Deathly Hallows.' Visitors who pre-ordered the book also purchased other products, helping to increase the online retailer's net income.

What's more, the 2.2 million copies of the new Potter book that Amazon sold will not be counted in the company's revenue until next quarter, which raises the possibility of even higher profits next quarter. Amazon's stock price hit $84.09 in after-hours trading, a level not seen since the days of the dot-com boom back in February 2000.

From The New York Times

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Filed under: Computers

Tags: amazon, business, harry potter, HarryPotter, revenue, stock

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Reader Comments (Page 1 of 1)

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Christian @ Jul 25th 2007 2:03PM

I pre-ordered from Amazon for the Potter book as well. Mostly due to their extremely cheap prices!

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