Amazon's 3rd-quarter profit more than quadruples

Web retailer Amazon.com said today that its third-quarter profit more than quadrupled as shoppers around the world bought more books, music, electronics and other goods than they did in the same period a year ago.

After pushing shares over $100 in regular trading, investors sold heavily after the bell when the results were announced.

Earnings for the quarter ended Sept. 30 skyrocketed to $80 million, or 19 cents a share, from $19 million, or 5 cents a share, during the same period last year.

The results beat the expectations of analysts polled by Thomson Financial, who on average forecast a profit of 18 cents a share.

Revenue climbed 41 percent to $3.26 billion from $2.31 billion in the year-ago quarter. Analysts predicted $3.14 billion in sales.

The company said changes in foreign-exchange rates throughout the quarter boosted sales by $75 million. Sales on U.S. and Canada sites rose 42 percent in the quarter compared with a year ago, and international sales improved 40 percent.

The retailer said it sold 2.5 million copies of "Harry Potter and the Deathly Hallows," its biggest new product release, but the company has said it would not make a profit on the title because it offered steep discounts and free shipping on it.

For the crucial holiday shopping quarter, Amazon said it expects sales between $5.1 billion and $5.45 billion.

The company increased its revenue forecast for the fiscal year between $14.26 billion and $14.61 billion, from earlier guidance of $13.8 billion to $14.3 billion.

Shares of Amazon.com fell $10.67, or 10.6 percent, to $90.15 in after-hours trading, after climbing $9.53, or 10.4 percent, to close at $100.82 Tuesday.