NEWS

Amazon losses narrow in Q3 as sales grow

Published on: 25th October 2013

The online retailer reported a net loss of $41m (£25m) for the July-September period, down from $274m a year earlier.Amazon-logo300

The company said that its sales surged 24% from a year ago to $17.1bn. The firm forecast its sales would grow further in the current quarter. That saw its shares rise by as much as 9.6% in after-hours trading in New York. Amazon said it expects fourth-quarter sales of $23.5bn to $26.5bn. Analysts had forecast revenue of $25.9bn.

This is the third quarter in a row that Amazon has posted a net loss. However, the firm has been taking steps to try to turn around its fortunes. This includes expanding its Kindle line of e-readers and tablets and boosting its delivery network and cloud-computing services. The company has also been building more warehouses to reduce shipping costs and is adding robots to increase its efficiency in delivering orders.

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