Amazon’s Earnings Loss Reflects Investments in New Business Segments
Amazon (Nasdaq: AMZN) posted its first quarterly net loss in five years on Thursday.
The company reported a third-quarter loss of $274 million, compared to a profit of $63 million – or $0.14 per share – last year.
And although revenue jumped 27% to $13.81 billion, it missed analysts’ expectations of $13.91 billion.
The loss can be attributed to a number of factors. Namely the company’s investments in the Kindle e-reader lineup, expansion to new locations like China, online video content and spending at fulfillment centers.
There’s another segment that Amazon’s been investing heavily in recently, too. And it’s one of the fastest growing retail categories online: The high-end fashion market…