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Saturday, July 27, 2013

Amazon reports a loss in its quarterly results

Amazon.com has announced financial results for the second quarter of 2013, with a reported $7 million (£4.6 million) loss compared with a $7 million profit in the same quarter last year.

Net sales were up 22% year-on-year to $15.70 billion in Q2 2013, while operating expenses rose and operating income fell 26% to $79 million.

The next set of quarterly results are expected to show a year-on-year increase in sales but also a larger operating loss, according to the company.

Jeff Bezos, founder and CEO of Amazon.com, said “We’re so grateful to our customers for their response to Kindle devices and our digital ecosystem. This past quarter, our top 10 selling items worldwide were all digital products – Kindles, Kindle Fire HDs, accessories and digital content. The Kindle service keeps getting better. The Kindle Store now offers millions of titles including more than 350,000 exclusives that you won’t find anywhere else. Prime Instant Video has surpassed 40,000 titles, including many premium exclusives like Downton Abbey and Under the Dome. And we’ve added more than a thousand books, games, educational apps, movies and TV shows to Kindle FreeTime Unlimited, bringing together in one place all the types of content kids and parents love.”

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Author: The Fonecast
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