Amazon (NASDAQ: AMZN) posted a surprise profit of 19 cents per share in its most recent quarter, blowing away analyst expectations that it would report a loss of 14 cents a share. The news sent the company's stock soaring 19 percent in after-hours trading immediately following the release of the company's results.
Indeed, according to GeekWire, the results were so good Amazon hosted a private concert in Seattle by Macklemore & Ryan Lewis and The Head and the Heart.
But, in a detailed report by Cnet, Amazon's results likely won't mean a return by the company to the smartphone market. As Cnet noted, Amazon's Jeff Bezos unveiled the company's Fire phone a year ago this week--during his presentation, AT&T chief Ralph de la Vega proclaimed the device "an amazing, breakthrough innovation." But sales of the device failed to catch fire due to the gadget's steep price, lackluster feature set and limited distribution.
And what of the Fire phone's 3D capabilities? "Nobody cared about that," Gartner analyst Ken Dulaney told Cnet.
So will Amazon release a new Fire phone? "We have a policy of not commenting on our roadmap, so can't give you anything there," Amazon CFO Brian T. Olsavsky said during the company's quarterly conference call, according to a Seeking Alpha transcript of the event. "We obviously do learn from everything we do and value the feedback we get from customers, but nothing to share at this point." Article