Amazon Posts Big Quarterly Loss as Expansion Expenses Mount

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Amazon Posts Big Quarterly Loss as Expansion Expenses Mount

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Amazon Posts Big Quarterly Loss as Expansion Expenses Mount

by TheStreet 1:02 mins

Amazon, the world’s largest online store reported a second-quarter loss of 27 cents a share, far wider than analysts' estimates of a 15 cents a share. Top-line growth was as expected, up 23% from a year earlier to $19.34 billion. The wider-than-expected net loss is largely a result of increased investment in new initiatives. The company has been expanding its hardware line, including the recent launch of the Fire smartphone, and entertainment services such as Kindle Unlimited. For its the current quarter, Amazon expects to incur operating losses as wide as $810 million, compared to $25 million a year earlier. TheStreet's Keris Lahiff reports from New York.

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