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Earnings: Amazon Revenue Beats Street; Media Sales Up 7 Percent

Amazon (NSDQ: AMZN) generated Q4 revenue of $4.89 billion and operating income of $244 million — revenue growth that exceeded analyst consensus estimates of $4.75 billion, but below operating income consensus estimates of $268 million. The company said it expects second quarter revenue to grow between 6 percent and 17 percent, a range in line with analyst consensus estimates. Excluding foreign exchange fluctuations, revenue grew at essentially the same rate as in fourth quarter 2008 (25 percent vs. 24 percent), indicating Amazon continues to increase its dominant share of the online e-commerce market. Some quick highlights:

North American sales grew 21 percent during the quarter to $2.58 billion.

International sales grew 15 percent to $2.31 billion.

Worldwide media sales grew 7 percent to $2.72 billion, indicating the company continues to differentiate beyond books.

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On the call: CEO Jeff Bezos and CFO Thomas Szkutak revealed some of the ways they improved the cost of selling the company

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