Amazon misses analysts’ estimates

Amazon.com, the world’s largest internet retailer, missed analysts’ second-quarter revenue and profit estimates as sales slipped for Kindle Fire devices and the company increased spending on new warehouses.

Net income fell to $7m (€5.7m), or 1 cent a share, from $191m, or 41 cents, a year earlier, the Seattle-based company said.

That missed the 3-cent average analyst estimate compiled by Bloomberg. Sales rose 29% to $12.8bn, compared with the average estimate of $12.9bn.