News Articles

Friday, October 26, 2012

Amazon.com makes a quarterly loss

Amazon.com has announced financial results for the third quarter of its financial year.

Net sales were up 27% year-on-year to $13.81 billion (£8.57 billion), although the company made a $274 million net quarterly loss. A year ago it reported profit of $63 million for the quarter. Most of the loss was due to the company’s investment in the LivingSocial local discount business.

Jeff Bezos, founder and CEO of Amazon.com, said “Our approach is to work hard to charge less. Sell devices near breakeven and you can pack a lot of sophisticated hardware into a very low price point. And our approach is working - the $199 Kindle Fire HD is the #1 bestselling product across Amazon worldwide. Incredibly, this is true even as measured by unit sales. The next two bestselling products worldwide are our Kindle Paperwhite and our $69 Kindle. We’re selling more of each of these devices than the #4 bestselling product, book three of the Fifty Shades of Grey series. And we haven’t even started shipping our best tablet - the $299 Kindle Fire HD 8.9” ships November 20.”

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: Handsets and manufacturers, Retailing, NewsNumber of views: 1432

Tags: amazonebooktablet

Leave a comment

Name:
Email:
Comment:
CAPTCHA image
Enter the code shown above in the box below.
Add comment

Name:
Email:
Subject:
Message:
x

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«October 2016»
MonTueWedThuFriSatSun
262728293012
3456789
10111213141516
17181920212223
24252627282930
31123456

Archive

Terms Of Use | Privacy Statement