Amazon Now a Larger Seller of Stuff Other Than Media

Amazon is still known by many consumers primarily for selling books, music and DVDs, even though it also offers a ridiculous variation of other products, like HDTVs and patio furniture. Now this "Other" category makes up the majority of its business.

In its first quarter earnings report on Thursday, in which it announced an expectations-busting 46 percent increase in revenues over the year before and a 68 percent increase in profit, Amazon said its worldwide media sales grew 26 percent to $3.43 billion. For the first time, that total is less than its worldwide sales of electronics and other general merchandise, which grew 72 percent to $3.51 billion. This long-expected inversion point is significant for Amazon. It also gives the company some insulation from the unpredictable shifts in the media business, in which it now faces tech heavyweights like Apple and Google in growing markets like digital music and e-books. The day could also be near when Amazon will derive more revenue from overseas than it does in the United States and Canada.