Thursday, July 25, 2013

Amazon Reports Loss, Misses Targets

Amazon.com reported its second quarter results Thursday afternoon, reporting a loss and missing analyst targets. Amazon.com lost $7 million in the second quarter, compared to net income of $7M for its second quarter last year. Analysts had been expecting $27.4M in profits at the company. The online retailer said it had $15.70 billion in second quarter sales, up 22 percent, but below the $15.74 billion expected by analysts. Amazon did not elaborate on the analyst expectations versus its actual report.