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Business

Investors not getting delivery from Amazon

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Opening sequence

Business

Investors not getting delivery from Amazon

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00:00:02
>> Amazon getting the wind knocked out of it Friday, even as it delivered its sixth profitable quarter in a row. Net profit was over $250 million, more than three times what it was in the same period last year. But that wasn't enough for investors who have been driving up Amazon stock in recent months.
00:00:21
Reuters reporter Jeffrey Dastin says the fourth quarter outlook may also be worrying them.>> Investors are somewhat bewildered that Amazon, one of the biggest companies in the world, could forecast operating income up $1.25 billion but as low as $0. And so they're wondering when is this company going to consistently churn out profits like we expect from such large companies.
00:00:47
>> The shares dropping over 4% in Friday morning trading. The stock has soared over 20% his year, hitting a record high of nearly $850 earlier this month. Still there's some good news, Amazon's fastest growing business, cloud storage, continuing its strong expansion with revenue in the last quarter surging over 50%.