Amazon Gets Late Christmas Present

Online retailer sees 30% jump in face of economic slowdown

(NEWSER) - Amazon posted a 30% profit jump in the first quarter, the Wall Street Journal reports, defying the sluggish economy. Net income was $143 million (34 cents a share) compared with $111 million (26 cents a share) in last year's first quarter. The company’s operating income guidance for the fiscal year fell, however—pushing shares sharply downward after hours. More»

Despite 313% jump, stock drops in after-hours trading

(NEWSER) - Amazon reported strong increases in third-quarter sales, citing once again its low pricing and free shipping for success. But investors may have been hoping for an even larger increase, because Amazon's share prices fell over 8% in after-hours trading. The company netted a profit of $80 million for the quarter, an increase of 313% over last year’s figures, according to CNNMoney. More»

Sales of digital products pay off tablet investment

(NEWSER) - Selling Kindle Fires turns out to have been a very profitable way for Amazon to lose money. The no-frills tablet computer—which sells for slightly less than it costs to make —has now captured more than half of the Android tablet market, with rival tablets from Samsung and Motorola a long way behind, BusinessWeek reports. The Fire sales have given a huge boost to Amazon's sales of digital products, helping it post first-quarter profits yesterday that were above analysts' highest expectations. More»

Amazon's offering will be significantly cheaper than most tablets

(NEWSER) - Amazon is introducing its new Kindle Fire tablet in New York, but Bloomberg got some details—and Mashable got a picture—early. For one thing, the $199 price tag is lower than rumored. It will feature a 7-inch display and WiFi capability, but no 3G, camera, or microphone. A free 30-day trial of Amazon Prime, the company’s premium membership service, will be offered along with the device. More»

Facebook founder tops Steve Jobs, Rupert Murdoch

(NEWSER) - Frighteningly enough, Mark Zuckerberg tops Vanity Fair 's list of this year's most influential people of the Information Age. The top 5 of its 100:

1. Mark Zuckerberg, Facebook: His company is valued at around $25 billion, has more than 500 million members, runs 176 billion banner ads a month, and is looking at $2 billion in revenue this year.
2. Steve Jobs, Apple: He's already saved the music business, now he's looking to do the same for the publishing industry with the iPad. And sales of his market-dominating iPhone will likely top $20 billion this year.