Amazon Records First Loss in Nine Years

On Oct. 25, e-tail giant Amazon.com reported a third quarter loss—its first in nine years.

The company’s net loss was $274 million in the third quarter, compared with net income of $63 million in third quarter 2011.

Some $169 million of that loss was related to Amazon’s investment in group-deal provider LivingSocial, the company said.

Still, the company’s sales remain on the rise: In the third quarter, they jumped 27 percent to hit $13.81 billion, compared with $10.88 billion in third quarter 2011.

 

JCK News Director