Amazon.com News Byte: Amazon Hits New High on Optimism About Its U.S. Business

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Amazon.com News Byte: Amazon Hits New High on Optimism About Its U.S. Business

Amazon.com News Byte: Amazon Hits New High on Optimism About Its U.S. Business
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Amazon.com News Byte: Amazon Hits New High on Optimism About Its U.S. Business

by Wochit 0:57 mins

Amazon.com Inc shares hit a record after quarterly results increased optimism about the Internet retailer's U.S. business. The company reported a second-quarter net loss and weaker international growth earlier this week. However, its domestic business expanded quickly and profit in the region improved. While Amazon's razor-thin profits turned to razor-thin losses, the company's revenue increased 22 percent. Google is introducing a sleeker version of its Nexus 7 tablet as it escalates its battle with Apple and Amazon.com in the mobile computing market. The latest tablet edition also comes with a higher price selling between $229 and $269.

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