Friday, October 26, 2012

Amazon Slips On $274M Quarterly Loss

Seattle-based e-commerce retailer Amazon.com slipped in the markets yesterday, dropping to $220.75 per share, after announcing a $274M loss on sales of $13.81 billion. The loss was its first in more than five years. The loss came from the firm's investment in LivingSocial, as well as a slowdown in Europe. The loss came despite a 27 percent rise in sales in the third quarter.