Amazon has posted a quarterly loss of $126m (£74m) on the back of significantly heavy investment in smartphones, warehouses, delivery systems and digital content. This compares with a $7m loss for the same quarter in 2013. Revenues for the quarter were up 23% (to $19.3bn), matching expectations, though that was not enough to calm investors […]
Amazon has posted a quarterly loss of $126m (£74m) on the back of significantly heavy investment in smartphones, warehouses, delivery systems and digital content. This compares with a $7m loss for the same quarter in 2013.
Revenues for the quarter were up 23% (to $19.3bn), matching expectations, though that was not enough to calm investors and shares fell over 6.4% during after-hours trading.
Amazon has also warned that it expects operating losses of $810m to $410m for this year’s third quarter (on projected sales of $19.7bn to $21.5bn). It remains to be seen if these figures will be buoyed by today’s US release of its first phone (the $199 Fire Phone) – not least as Amazon has already come under fire for launching a premium, high-end device.
