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Amazon's Cold Fire Phone Inflames Investors

Update On :28 October 2014

Amazon's Cold Fire Phone Inflames Investors

Amazon on Thursday posted a net loss of US$437 million for the third quarter, or 95 cents per diluted share. For the same period in 2013, it posted a net loss of $41 million, or 9 cents per diluted share.

Amazon had warned shareholders when it reported its bleak second quarter performance in July that the next quarter would be equally grim. However, that did not keep investors from reacting in surprise and dismay when the Q3 report arrived. Shares dropped 10 percent on Friday.

Not all of the news was bad. Net sales increased 20 percent to $20.58 billion in the third quarter, compared with $17.09 billion in third quarter 2013. For the fourth quarter, Amazon expects net sales to be between $27.3 billion and $30.3 billion -- a growth rate that will range between 7 percent and 18 percent compared with fourth quarter 2013.

It's not clear how long the bleeding will continue. The company's forecast for the fourth quarter ranges from a possible operating loss of $570 million to a potential $430 million profit, compared with its $510 million profit in the fourth quarter 2013 and its $544 million loss in the quarter just ended.

News Source From : http://www.ecommercetimes.com/story/Amazons-Cold-Fire-Phone-Inflames-Investors-81253.html

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