Amazon profit falls 57% on shipping costs, Kindle Fire
World BusinessFeb 1, 2012
Amazon.com Inc., the world’s largest Internet retailer, missed analysts’ fourth-quarter revenue estimates and reported a 57 percent decline in profit, dragged down by shipping costs and the money-losing Kindle Fire. Net income fell to $177 million, or 38 cents a share, from $416 million, or 91 cents, a year earlier, the Seattle-based company said Tuesday in a statement. Sales rose 35 percent to $17.4 billion, compared with an estimate of $18.3 billion. Chief Executive Officer Jeff Bezos is squee