Amazon.com posts 2Q loss, higher revenueJuly 26, 2013 in Technology / Business
(AP)—Amazon.com is reporting a loss in the second quarter as higher revenue was not enough to make up for rising operating expenses.
Amazon.com Inc. said Thursday that its loss was $7 million, or 2 cents per share, in the April-June quarter. That's down from earnings of $7 million, or 2 cents per share, a year ago.
Revenue rose 22 percent to $15.7 billion from $12.83 billion.
Analysts, on average, were expecting earnings of 5 cents per share on revenue of $15.73 billion.
Amazon is forecasting revenue of $15.45 billion to $17.15 billion for the current quarter. Analysts were expecting $16.97 billion.
Amazon's stock fell 3 percent to $294.26 in extended trading after the results were released.
© 2013 The Associated Press. All rights reserved.
"Amazon.com posts 2Q loss, higher revenue" July 26, 2013 http://phys.org/news/2013-07-amazoncom-2q-loss-higher-revenue.html