For its second quarter earnings for the 2014 fiscal year, Amazon is promoting its growth in sales as well as new products and services, but despite the positive outlook the web retailer's earnings paint a different picture. Amazon saw losses widen to $126 million for the quarter, which is quite the jump from a $7 million loss from a year prior.
Yet despite these losses, it seems that Amazon's other services are doing fine. The company is pleased with the launch of Fire TV, a product that debuted earlier in the year, and Prime Music. It also added Sunday delivert service in many markets and says that Amazon Prime customers can order as late as Friday and have packages delivered by Sunday.
The company noted that sales are up as much as 23 percent year-over-year and that it had generated a whopping $19.34 billion in sales.
The company is also highlighting its Fire Phone, a brand new product that recently launched. Given the timing of Fire Phone's launch, any sales of Fire Phones wouldn't be included in this quarterly report, which closed on June 30, 2014, so we will have to wait until the next quarter to learn more. Amazon's debut smartphone is seen as a product that will help expand Amazon's e-commerce appeal by leveraging Amazon's services like Prime, Instant Video, and Prime Music.
Investors do not seem pleased with results and Amazon's share prices are down in after-hours trading.