Amazon Stock Declines as Operations Investments Increase

Amazon shares were down 2% after the company reported second quarter earnings Thursday afternoon. Net income fell 96% from $191 million, or $0.41 per share, to $7 million, or $0.01 per share, as the company continued to invest in logistics improvements.

Amazon took recorded a net loss of $65 million, due largely to its $775 million acquisition of robot maker Kiva Systems, which the company is using to improve its fulfillment centers.

Sales were strong, up 29% from the same period a year ago to $12.83 million, and operating income of $107 million, about half what it recorded in Q2 2011. The company says revenue would have grown 32%, but were hurt by year-over-year changes in foreign exc…
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