Amazon.com (AMZN) released its earnings last night, and the results suggest that the company is spending a lot of money developing and marketing its new Kindle Fire tablet. Amazon is looking to compete with Apple ‘s iPad.
The company reported net income of $63 million, or $0.14 per share. A year ago, the company earned $231 million, or $0.51 per share. This quarters earnings missed analysts’ expectations of $0.24 per share.
Amazon forecast that its operating results in the next quarter would range from a loss of $200 million to a profit of $250 million.
AMZN is currently down 29.40 to 197.74
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