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Amazon.com (AMZN) exploded in growth, as third quarter earnings surged over last years' same period.

For the quarter ending September 30, the company net income grew to $80 million, equal to 19 cents per diluted share. That's a huge 313 percent increase over the same period last year.

Overall sales grew to $3.26 billion for the quarter, also up a hefty 41 percent from the $2.31 billion in the third quarter of 2006.

"Customers continue to respond to our low prices, our free shipping, and the benefits of Amazon Prime. With our ever-increasing selection, customers are now getting this unusual level of service across many different product categories and with depth of selection in each category," said Jeff Bezos, Chief Executive of Amazon.com.

Not only did they far exceed third quarter expectations, but guidance has been raised significantly for the fourth quarter, with net sales expected to grow to somewhere between $5.1 billion and $5.45 billion. Sales for the entire year have also been projected to reach between $14.3 billion and $14.6 billion.

For the operating income of the company in the fourth quarter, it is expected to range between $221 million to $291 million. For the entire year, it is projected to be somewhere between $605 million and $675 million.
 
If Amazon.com is a view of what the Holiday season may bring for retailers, projections of slower sales this year could be wrong for the overall retail industry.