Single-minded pursuit: Investors looking for big profits may be put off by Amazon investing heavily to build its businesses, from datacentres for cloud services and shows for its streaming television service to developing drones to quickly deliver online purchases.
SAN FRANCISCO: US online giant Amazon reported profits doubled in the past quarter, as it attracted more customers with video and other services, but the results missed Wall Street forecasts.
Amazon shares dived more than 13% to US$551 (RM2,275) in after-hours trade on the results, which showed a fourth-quarter profit of $482 million, up from a US$214mil (RM883.28mil) profit a year earlier.
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