Shares Of Amazon Dive After E-Tailer Posts $437 Million Loss For Q3
Amazon came up short of analysts' expectations for its fiscal third quarter of 2014. The e-tailer saw its sales increase 20 percent to $20.58 billion, compared with $17.09 billion in the same quarter a year ago, though the firm also posted an operating loss of $544 million, compared with an operating loss of $25 million a year prior.
The end result of Amazon's efforts for its third quarter ended September 30, 2014, is a net loss of $437 million, or $0.95 per diluted share, compared with a net loss of $41 million, or $0.09 per diluted share, in the third quarter of 2013.
Nevertheless, company CEO Jeff Bezos tried to remain optimistic as the online retailer heads into what it hopes will be a busy holiday shopping season.
"As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever," said Jeff Bezos, founder and CEO of Amazon.com. "In addition to our already low prices, we will offer more than 15,000 Lightning Deals with early access to select deals for Prime members, hundreds of millions of products across dozens of categories, curated gift lists like Holiday Toy List and Electronics Holiday Gift Guide, new features like #AmazonWishList, and a great new lineup of products like Kindle Voyage and Fire HD Kids Edition. And if you order your gifts on AmazonSmile, we’ll donate a percentage of your purchase price to your favorite charity.”"
Investors aren't sharing his optimism. Shares of Amazon plummeted by as much as 13 percent during after hours trading and are down by more than 8 percent, or $25.58, on Friday.
The end result of Amazon's efforts for its third quarter ended September 30, 2014, is a net loss of $437 million, or $0.95 per diluted share, compared with a net loss of $41 million, or $0.09 per diluted share, in the third quarter of 2013.
Nevertheless, company CEO Jeff Bezos tried to remain optimistic as the online retailer heads into what it hopes will be a busy holiday shopping season.
"As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever," said Jeff Bezos, founder and CEO of Amazon.com. "In addition to our already low prices, we will offer more than 15,000 Lightning Deals with early access to select deals for Prime members, hundreds of millions of products across dozens of categories, curated gift lists like Holiday Toy List and Electronics Holiday Gift Guide, new features like #AmazonWishList, and a great new lineup of products like Kindle Voyage and Fire HD Kids Edition. And if you order your gifts on AmazonSmile, we’ll donate a percentage of your purchase price to your favorite charity.”"
Investors aren't sharing his optimism. Shares of Amazon plummeted by as much as 13 percent during after hours trading and are down by more than 8 percent, or $25.58, on Friday.
