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Amazon reports big quarterly net loss


By zzyzzx   Follow   Thu, 25 Oct 2012, 6:26am PDT   639 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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Add Icon anonymous   Thu, 25 Oct 2012, 11:59am PDT   Share   Quote   Permalink   Like   Dislike     Comment 1

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

curious2   Thu, 25 Oct 2012, 12:08pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 2

In September, they started charging sales tax in California.

Patrick   Thu, 25 Oct 2012, 1:01pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 3

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

zzyzzx   Thu, 25 Oct 2012, 11:46pm PDT   Share   Quote   Permalink   Like   Dislike (1)     Comment 4

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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