Amazon isn't the money-losing online bookstore it once was. Yesterday, the retail giant announced record quarterly and annual profits, with operating income increasing 86% year-over-year.
But when it comes to explaining this profit growth publicly, Amazon doesn't disclose the whole picture. And that murkiness leaves unanswered the question of just how much profit comes from one of Amazon's thornier business practices: Increasing the fees on the millions of independent sellers who are critical to stocking the shopping platform's digital shelves.
