Amazon narrows 3Q loss as sales jump 24 pctOctober 24th, 2013 in Technology / Business
Amazon.com says that its fiscal third-quarter loss narrowed as revenue grew 24 percent.
The Seattle-based online retailer also said Thursday that it expects growth in its fourth-quarter revenue, indicating confidence as it enters the key holiday shopping season.
Amazon posted a loss of $41 million, or 9 cents per share, for the quarter that ended in September. That is compared with a loss of $274 million, or 60 cents per share, in the same quarter last year. The prior year includes a one-time $169 million loss related to its stake in online deals site LivingSocial.
Revenue came to $17.09 billion from $13.81 billion.
Analysts were anticipating a loss of 9 cents per share on $16.76 billion in revenue.
Shares rose nearly 7 percent in after-hours trading.
© 2013 The Associated Press. All rights reserved.
"Amazon narrows 3Q loss as sales jump 24 pct." October 24th, 2013. http://phys.org/news/2013-10-amazon-narrows-3q-loss-sales.html