Amazon shares fall after it reports widening losses

yugasini By yugasini, 24th Oct 2014 | Follow this author | RSS Feed | Short URL http://nut.bz/d3q1m-q5/
Posted in Wikinut>Business>Business Opportunities

Amazon has reported a third-quarter loss of $437m (£273m) - up significantly from the $41m loss it reported for the same period last year.

Amazon shares Fall in New York Stock Exchange

The internet retailing giant also said it expected to report a bigger-than-expected loss in the next three-month period.

Amazon shares plunged over 10% in after-hours trading in New York.

Investors have long been wondering when Amazon will turn its significant revenues into profits for shareholders.

Amazon has been spending heavily in various new initiatives, including its Amazon Fresh grocery delivery service in the US, and its $1bn acquisition of video game streaming site Twitch.

That has hurt profits at the firm, with operating expenses growing to $21.1bn, compared with the $17.1bn last year.

Investors have been tolerant of Amazon's policy of reinvesting profits back into the firm. But patience has been wearing thin in recent months.

Shares in the firm have fallen nearly 20% since the beginning of this year.

In a statement accompanying its earnings, Amazon founder and chief executive Jeff Bezos chose instead to focus on the firm's holiday offerings during the crucial period in the run-up to Christmas.

"As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever," he said.

Source:bbc.com

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20, Amazon, Groceries, Internet, Loss, New York, Retailing, Shares, Third Quarter, Trading

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author avatar yugasini
ii am the person ,i help friends according to their need ,if i have that stuff with me,i am sincere,straightforward,trustworthy person

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author avatar KNICKS & KNACKS
24th Oct 2014 (#)

Amazon is upto many goof-ups here in India...one of my personal experiences with Amazon was very bitter .. Despite they charged me a one-day-delivery since we urgently required and amazon guys didnt bother to take it on priority... I guess in a service industry it wouldn't have been bad even if the Vice president delivered it on priority because they gave excuses like our guys were not available to deliver...

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author avatar yugasini
24th Oct 2014 (#)

when we are buying a product it may take two or more days to deliver. Urgency is there it is better to buy from the local stores. I regret for the delay caused to you in this regard.

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author avatar Fern Mc Costigan
29th Oct 2014 (#)

Awesome post and interesting piece as well!

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author avatar yugasini
29th Oct 2014 (#)

Thanks for the comment, have a nice day.

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