By Andrew P. Napolitano
The president's men trash the Constitution to pursue antagonists
Independent voices from the TWT Communities
Amazon reported third-quarter results below Wall Street's expectations on Thursday _ including a large loss, weighed by its stake in online deals service LivingSocial and continued spending on its Kindle business and distribution centers.
Amazon.com Inc. posted first-quarter profits Thursday that blew by analysts' estimates and boosted the company's stock in extended trading. The online commerce giant said its Kindle Fire tablet computer was its best-selling item and helped lift revenue from digital movies and books.
Amazon's spending on expansion will eventually help its bottom line, but right now it's costing the online retailer on Wall Street.
Amazon.com Inc.'s second-quarter profit fell as the leading online retailer continued to spend on expanding its business.
Amazon.com Inc. said Tuesday that its second-quarter profit fell despite a 51 percent jump in revenue as the leading online retailer spent heavily to expand its business.
Amazon.com Inc. said Thursday that its second-quarter net income jumped, bolstered by shoppers who spent more with the online retailer even as consumer confidence fell overall.
Szkutak said the decline in profits was due to continuing investments the company has made in fulfillment centers, Web services infrastructure and video content rights.
"The good news is we have a lot of opportunity to invest and invent on behalf of customers," he said. "That's what we're doing. It is impacting our bottom line results."