Amazon reports big quarterly net loss


By zzyzzx   Follow   Thu, 25 Oct 2012, 1:26pm   588 views   4 comments
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http://finance.yahoo.com/news/amazon-reports-big-quarterly-net-201043157.html

Amazon said its third-quarter net loss was $274 million, or 60 cents a share, versus net income of $63 million, or 14 cents a share, in the third quarter of 2011.

Reuters) - Amazon.com Inc reported a big quarterly net loss on Thursday as the world's largest Internet retailer spends heavily to expand existing operations and develop new businesses. Amazon said its third-quarter net loss was $274 million, or 60 cents a share, versus net income of $63 million, or 14 cents a share, in the third quarter of 2011. Part of the loss related to an impairment charge from Amazon's investment in daily deal company LivingSocial. Third-quarter revenue was $13.81 billion, up 27 percent from a year earlier, Amazon also said. (Reporting By Alistair Barr; Editing by M.D.

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  1. anonymous

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    1   6:59pm Thu 25 Oct 2012   Share   Quote   Permalink   Like   Dislike  

    Ah, they're back to their old way of doing business.

  2. curious2


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    2   7:08pm Thu 25 Oct 2012   Share   Quote   Permalink   Like   Dislike  

    In September, they started charging sales tax in California.

  3. Patrick


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    3   8:01pm Thu 25 Oct 2012   Share   Quote   Permalink   Like   Dislike   Protected  

    Sales tax might cut into their revenue for sure, since some people shop on Amazon just to avoid it.

  4. zzyzzx


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    4   6:46am Fri 26 Oct 2012   Share   Quote   Permalink   Like   Dislike (1)  

    badraig says

    Ah, they're back to their old way of doing business.

    I had forgotten about that, but it's so true.

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