Amazon.com raises outlook for year

Amazon.com, the internet's largest retailer, has said higher revenue and cost-cutting have helped it narrow its quarterly loss and raise its outlook for the year.

Shares of the Seattle-based web merchant rose more than 6% after it reported a net loss of $43m (€37.7m), or 11 cents per share, in its second quarter, compared with a net loss of $94m (€82m), or 25 cents, a year earlier.