Amazon's (AMZN) - Get Report message to investors on Thursday was simple: spend, spend, spend.

Wall Street wasn't happy about it. Shares of Amazon are poised to open down 3% on Friday, after the company missed big on the bottom line for the second quarter.

In an earnings call following the report, Amazon CFO Brian Olsavsky gave a glimpse into what exactly the company is investing in. Olsavsky said Amazon is plowing profits into fulfillment (sorting facilities, fulfillment centers and its Fulfillment By Amazon service), video content, overseas expansion (mostly India), Amazon Web Services infrastructure and marketing, where its been building out its AWS sales team and advertising sales team.

Despite the selloff after-hours, some analysts said these kinds of investments are par for the course for Amazon. The company itself said investors should expect more of the same, forecasting it could lose up to $400 million in the current quarter.

"Those margins, as we say frequently, are going to fluctuate quarter to quarter and always going to be in net of investments, price reductions and cost efficiencies that we drive," Olsavsky said. "So we have really stepped up the [AWS] infrastructure to match the large usage growth and also the geographic expansion. And that is showing up in tech and content."

Outside of AWS spending, Olsavsky said Amazon stepped up its investments in Prime benefits both in the U.S. and internationally. Amazon continues to add more features to its Prime subscription service, such as Prime Video and its Prime Now same-day delivery service, which it just launched in Singapore on Wednesday, furthering its investments in Asia.

More of What's Trending on TheStreet:

Amazon maintains that investments are paying off because it brings new customers into the Prime ecosystem where items are cheaper and they're more willing to spend. During the quarter, Prime subscription revenue grew 53% year-over-year. The company also just had another successful annual Prime Day, which it said was the biggest sales event ever for Amazon devices.

"We see that is tied to the Prime growth and the adoption of Prime and the success of that program," Olsavsky said. "...As we said, it's the best deal in retail."

But some analysts are still unsettled by Amazon's pace of spending. The company said it expects operating income to be between $300 million and a loss of $400 million in the current quarter, while Wall Street was projecting $931 million.

"It would be nice if they were more transparent about what they're investing in," said Wedbush analyst Michael Pachter.

Pachter noted, however, that Amazon has always been a big spender. The company used to say "investors be damned, we'll lose money if we feel like it," he added. Amazon has been profitable for the past eleven consecutive quarters, so clearly CEO Jeff Bezos realizes that they have to start making money.

"He knows how to be profitable," Pachter said. "They will not lose money."

Watch More with TheStreet: