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Amazon reports $126m loss, sales increase

  • 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.

     

     

    Tagged as: Amazon, loss, second quarter, sales, revenue, smartphone, Fire Phone, Jeff Bezos, business news