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The company this morning unveiled a new .99 Fire tablet as part of its annual hardware refresh, as reported by GeekWire’s Jacob Demmitt from a previously secret press briefing held by Amazon at a home in?San Francisco yesterday. With a 1.3 GHz processor and 1024×600 screen, the specs are not high-end, but Amazon is pitching?the device as a solid entry-level tablet.

The company reported net income of .8 billion, or .17 a share, compared with .75 billion, or .39 a share, for the same quarter a year ago. Adjusted earnings were .30 a share, beating Wall Street's estimates of .01 a share. Worldwide sales increased 3.3 percent to .69 billion from a year ago, topping the .73 billion analysts had projected.

The company official emphasized the flexible active-matrix organic light-emitting diodes or AMOLEDs will have wider applications in smartphones, computers, smart wearables, vehicles, smart homes, virtual reality and augmented reality.

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The company, trading under the ticker symbol of "XYF", announced its initial public offering of 11,000,000 American depositary shares (ADSs), each representing two Class A ordinary shares, at a price to the public of .5 per ADS for a total offering size of approximately 104.5 million dollars, assuming the underwriters do not exercise their option to purchase additional ADSs.

The company's total revenues were 7.82 billion yuan (.1 billion) last year, representing an increase of 58 percent from the previous year.

The company's total revenue for the second quarter reached 26.3 billion yuan (.84 billion), rising 1 percent year over year, Baidu said in a statement. Data from Refinitiv showed analysts on average had expected revenue of 25.8 billion yuan.

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The company is cooperating with Germany's BMW, Volkswagen and Bosch and providing them with its LiDAR products to use in their autonomous driving systems. The cooperation also involves extensive demonstration and testing.

The company says 10,000 Amazonians now work on Alexa — read here what a few of them have to say about that experience — and customers interact with her billions of times each week. Over the course of five years, more than 100 million Alexa-enabled devices have been sold.

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The company will thoroughly rectify and reform its conduct, cooperate with regulators and not shirk its responsibilities, Huang Zheng, Pinduoduo CEO, was quoted as saying in the statement.

The company’s growth has transformed the area north of downtown Seattle, and turned Amazon into an emblem of the technology boom — helping to fuel?the regional economy?while contributing to traffic problems and rising housing costs.