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Amazon posts first quarterly net loss in 4 years

Rhian Jones
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Amazon has posted its first quarterly net loss in four years, reporting a loss of $274 million in Q3 of its 2012 financial year.

The earnings release sent the online retailers shares down $2.17 to $220.75 in after-hours trading yesterday (Thursday, October 25), according to the Wall Street Journal.

The publication points out that heavy investment from the online retailer has seen typicall razor-thin margins.

The company made a loss of 60 cents a share, or 23 cents a share, non-GAAP, on sales of $13.81 billion. A year ago, the company earned 14 cents a share, on sales of $10.88 billion.

Apple also suffered small declines after releasing earnings reports and projections that missed Wall Street expectations.

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Tags: apple, Amazon, Retail, shares, finance

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