Latest in Amazon

Image credit:

Amazon hit by surprise loss last quarter, despite 22 percent rise in sales

Sharif Sakr
07.26.13
22 Shares
Share
Tweet
Share

Sponsored Links

The retail game is all about scraping a living out of tiny margins, and nowhere is that more evident than in Amazon's latest financial report. The company managed to grow revenue by 22 percent year-over-year between April and June, to $15.7 billion, and yet it confounded analysts' predictions by making a loss of $7 million, versus a $7 million profit in the same quarter last year. Then again, this knock has been attributed to the fact that Amazon is pushing to expand beyond the retail game, by investing heavily in its Kindle business, digital downloads and streaming products, as well as in building a bigger presence in China. This has been the strategy for a while, of course, and it's not the first time the company has been pushed into the red as a result. But Jeff Bezos says that Amazon's top ten bestselling products last quarter were all either Kindles, accessories for Kindles, or digital content for Kindles, which suggests the transformation is steadily having an impact, even if it's proving expensive.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
22 Shares
Share
Tweet
Share

Popular on Engadget

'Pokémon Go' online battle feature starts rolling out

'Pokémon Go' online battle feature starts rolling out

View
Lime knows when you're riding its scooters on the sidewalk

Lime knows when you're riding its scooters on the sidewalk

View
Google Translate is getting a transcribe mode for lectures, speeches

Google Translate is getting a transcribe mode for lectures, speeches

View
Google's latest stab at messaging may be an all-in-one business app

Google's latest stab at messaging may be an all-in-one business app

View
Mini's 2020 Cooper SE zips around town powered by electrons

Mini's 2020 Cooper SE zips around town powered by electrons

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr