Amazon grows in gaming

Article Excerpt

AMAZON.COM $324.00 (Nasdaq symbol AMZN; TSINetwork Rating: Extra Risk) (206- 266-1000; www.amazon.com; Shares outstanding: 462.0 million; Market cap: $149.7 billion; No dividends paid) has acquired gaming network Twitch Interactive for about $970 million in cash. The company reportedly outbid Google. Twitch, which was founded in 2011, is a popular Internet video channel for broadcasting and watching people playing video games. The website is estimated to be the fourth-largest source of U.S. Internet traffic, behind Netflix, Google and Apple. Gaming—especially mobile gaming—is a new area of focus for Amazon. Twitch is a leader, with more than 55 million users. It generates revenue from both subscriptions and advertising. Amazon.com is still a hold. hold…