Amazon.com’s revenue rose more than Wall Street expected in its fiscal third quarter, but the online retailer posted another loss that was attributed to ongoing investments in its business.
Steady profits have proved elusive for the world’s largest online retailer as it spends heavily on filling orders, marketing, and technological improvements and innovations. But investors were cheered by its revenue forecast for the fourth quarter, a sign of confidence and optimism as it enters the key Christmas shopping season. Shares rose 8 percent in after-hours trading.
Amazon has been busy releasing new products and expanding. Operating expenses rose 24 percent during the quarter.
The Seattle-based company posted a loss of $41 million, or 9 cents per share,for the quarter that ended in September, matching analyst expectations. That compared with a loss of $274 million, or 60 cents a share, in the same quarter last year.
Business, Pages 28 on 10/25/2013