Amazon.com posts first quarterly loss since 2003
The third-quarter net loss was $274m (€212m), or 60 cents a share, compared with net income of $63m, or 14 cents, a year earlier, the Seattle-based company said. Sales rose 27% to $13.8bn, compared with analysts’ average estimate of $13.9bn, according to data compiled by Bloomberg.
Amazon’s expanded lineup of Kindle devices to challenge Apple in the tablet market — expected to reach $63.2bn this year, according to researcher DisplaySearch — are facing competition from new machines from Microsoft and Google. Amazon’s sales growth slowed to 37% in Sep from 41% in Aug, ChannelAdvisor said earlier this month.
