Amazon Kindle Sales Surge, but Expenses Smoke Profits
Company reports 'biggest order day ever'
Amazon’s Kindle Fire may be a hit with consumers, but the company is going to have to reignite confidence from Wall Street.
After reporting lower-than-expected net income and guidance for the fourth quarter, shares in Amazon sank as much as nearly 20 percent in after-hours trading.
In the last quarter, the Seattle-based e-commerce giant said net income plunged 73 percent to $63 million, or 14 cents per diluted share. Analysts expected the company to report earnings per share of 24 cents.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in