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Amazon reports $57mn loss in Q1 of 2015, but revenues up by 15%

  • Amazon has reported a quarterly loss of $57 million for the first three months of 2015, though the online retailer's total revenues increased by 15% to $22.7 billion. 

    Meanwhile, the company’s web service business, which leverages the power of cloud computing, has generated sales of $1.57 billion in the first quarter, Amazon said.

    In a statement, Jeff Bezos, Amazon’s founder and chief executive, described Amazon Web Services as a “$5 billion business” that is “still growing fast.”

    Tagged as: Amazon, quarterly loss, online publishing firm, Amazon revenues, cloud computing, Jeff Bezos, Amazon Web Services, business news