Wednesday April 1, 2020

Amazon loss widens as Bezos poors money into new services

Amazon fell more than 11 per cent after posting its widest loss since 2012, as its cloud-computing business showed signs of cooling.

25th July, 2014
Amazon projected sales of $19.7 billion to $21.5 billion for the current quarter

Amazon fell more than 11 per cent after posting its widest loss since 2012, as its cloud-computing business showed signs of cooling and investments in new distribution warehouses and gadgets hold back profitability.

The world’s largest online retailer had a second-quarter loss of $126 million, wider than analysts’ $66.7 million average estimate and a $7 million loss a year earlier. Sales climbed 23 per cent to $19.3 billion, while operating expenses increased 24 per cent to $19.4...

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