Amazon narrows 3Q loss as sales jump 24 pct

October 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 , 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 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