AfterDawn: Tech news

Amazon posts another quarterly loss but sales continue strong growth

Written by Andre Yoskowitz (Google+) @ 24 Oct 2013 23:23

Amazon posts another quarterly loss but sales continue strong growth Amazon has posted their quarterly results today, showing another loss but seeing growth skyrocket.
The company saw revenue jump 24 percent year-over-year to $17.1 billion, while overall they had a loss of $41 million.

"It's been a busy few months--we launched a new Paperwhite and new Kindle Fires to positive reviews and surprised people with the revolutionary Mayday button--average Mayday response times are just 11 seconds!" Amazon CEO Jeff Bezos said in a press release.

The black hole that is Living Social led to the loss for this quarter, as the company wrote down $132 million in losses on the daily deal site.

Amazon says it expects a net loss next quarter, as well, of $500 million, but revenue will see large growth to over $25 billion.

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