Amazon Posts Larger Q2 Loss

The company said revenue rose 23% to $19.34 billion from $15.7 billion in the same quarter a year earlier.

Associated Press
Associated Press
Jul 24, 2014 at 4:58PM
Technology and Telecom

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full AMZN report: http://www.zacks.com/ap/AMZN

SEATTLE (AP) -- Amazon.com on Thursday reported a bigger loss in its second quarter, and missed analysts' expectations.

The Seattle-based company posted a loss of $126 million, or $0.27 per share, compared with $7 million, or $0.02 per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of $0.13 per share.

The company said revenue rose 23% to $19.34 billion from $15.7 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $19.33 billion, according to Zacks.

Amazon shares have decreased $40.18, or 10%, to $358.61 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.6%. However, the stock has increased $55.21, or 18%, in the last 12 months.