— Online sales are rising for the third month in a row for Amazon.com Inc. and Microsoft Corp. and the company expects more online sales in the fourth quarter.
The online sales increase was driven by an increase in the number of customers who purchased their first Amazon.net, a service that enables them to buy from the online marketplace, and the number who bought a Kindle e-reader, said Todd Stearns, an analyst with Wedbush Securities Inc. “The trend for the year is going to continue,” Stearn said.
Net revenue grew 11% in the first quarter, according to company data.
That was up from 11% for last year and is the best quarterly result since at least the second quarter of 2012, when Amazon.
Net revenue fell 5% in a quarter that included an accounting error that caused it to miss its quarterly sales targets.
Microsoft said online sales were up 13% in June, driven by the launch of the Xbox One game console and the acquisition of Skype.
Net was $2.6 billion, up from $2 billion in May, according the company.
Microsoft has said it is spending $4.5 billion to buy Skype, its video-calling service, in a deal that could lead to an Amazon.
N.E.T. sale of Skype, an Amazon-owned company.
Wal-Mart Stores Inc., the largest U.S. retailer, said online revenue was up 9.7% for May, driven primarily by the company’s deal to acquire Target Corp. In June, Amazon announced a deal to buy video-rental provider Yandex.
Com, which would give Amazon an extensive catalog of online video services and services for home entertainment.
Other online-shopping trends included a jump in mobile commerce, an increase of more than 2 million online shoppers, and a jump of more 100,000 in online purchases, Microsoft said.
Overall, online sales rose 12.2% for Amazon, which posted record quarterly revenue of $3.85 billion.
The company reported first-quarter net income of $1.89 billion.