Amazon reports $126m loss, sales increase
July 25 , 2014
Amazon has reported a $126m loss for its second quarter despite a rise in sales.
While the revenue increased 23% to $19.34bn, losses piled up mainly because the company has spent heavily on its first smartphone, the Fire Phone, as well as expanding new services.
Chief executive officer Jeff Bezos said: “We continue working hard on making the Amazon customer experience better and better.”
Amazon shares fell 10% in after-hours trading.