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Harry Potter Levitates Amazon Revenue

by Terrence O'Brien on July 25, 2007 at 12:03 PM

Harry Potter Boosts Amazon RevenueWho 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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Tags: amazon, business, harry potter, HarryPotter, revenue, stock

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