Despite a 23 percent increase in sales to $19.34 billion, Amazon reported a net loss of $126 million, or $0.27 per diluted share, for its fiscal second quarter ended June 30, 2014. That compares to a profit of $108 million in the first quarter, and a loss of $7 million, or 2 cents a share, on revenue of $15.7 billion in the same quarter a year prior. The lesson here is that Amazon isn't afraid to take a loss in order to launch new products and services.
This might be the streaming box you've been waiting for
The tech sector is terrible at keeping secrets, and as such, we've long suspected Amazon was working on a streaming device of its own. It turns out the rumors were true. At long last, Amazon today announced a 1080p streaming set-top box it's calling Fire TV, and though it's small, it packs a punch. Powering the device is a Qualcomm Snapdragon 8064 quad-core processor clocked at 1.7GHz with Adreno 320 graphics and 2GB of RAM.