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Amazon reports $41mn loss in third quarter, despite 24% rise in revenues

According to the report, the company’s revenue jumped to 17.09 billion dollars from 13.81 billion dollars, more than Wall Street’s prediction of 16.76 billion dollars.



Sydney: Online retailer Amazon.com has reported a loss of 41 million dollars in its third quarter that ended in September, despite a 24 percent rise in sales during the same period.

The Seattle-based company has been investing heavily on launching new products, expanding the number of fulfilment centres, filling orders, marketing and technological improvements and innovations with robots, News.com.au reports.

According to the report, the company’s revenue jumped to 17.09 billion dollars from 13.81 billion dollars, more than Wall Street’s prediction of 16.76 billion dollars.

From Zee News

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