Amazon disappoints investors with plunging profits

Amazon (s AMZN) disappointed investors with its second-quarter earnings Thursday, reporting plunging profits and results below Wall Street expectations. The company reported $12.83 billion in revenue, up 29 percent over last year but missing estimates of $12.9 billion, and predicts an operating loss for Q3.

Amazon gets West Wing, Fringe from Warner

Deal brings the Aaron Sorkin-penned political drama The West Wing and the Fox sci-fi/fantasy series Fringe exclusively to members of Amazon’s Prime Instant Video service, as well as purchasers of its Kindle Fire tablet

Amazon adds depth to Prime with MGM deal

The deal adds movies and TV shows from one of Hollywood’s most essential content libraries, including Moonstruck, Silence of the Lambs, Rain Man and Thirtysomething. Amazon has now licensed 18,000 movies and TV episodes for its subscription streaming service.

Amazon: No plans to launch a standalone video service soon

As Amazon adds more content to Prime Instant Video, some expect the company could create a standalone service to compete with Netflix. But Digital Content Acquisition Head Brad Beale said Amazon will stay focused on the Prime bundle, at least in the near future.