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Q3 sales soar 20% at Amazon, but losses mount ten-fold
29
Oct '14
Although sales surged 20% from a year earlier quarter at Amazon.com in the three months to September 30, 2014, net loss soared more than ten-fold in the quarter.

Net loss rose massively Amazon to $437 million in the third quarter of 2014, or $0.95 loss per diluted share, from net loss of $41 million, or $0.09 loss per diluted share, in third quarter of 2013.

However, Amazon, the world’s biggest online retailer, said its sales surged 20% to $20.58 billion in the third quarter of 2014, compared with $17.09 billion in third quarter of 2013.

“The favorable impact from year-over-year changes in foreign exchange rates throughout the quarter on net sales were $13 million,” Amazon informed.

Operating loss for the reporting quarter too rose significantly to $544 million against an operating loss of $25 million in the prior year quarter.

Operating cash flow increased 15% to $5.71 billion at the end of September 30, 2014, compared with $4.98 billion at the end of September 30, 2013.

Free cash flow increased to $1.08 billion at the end of September 30, 2014 versus $388 million at the end of September 30, 2013.

Amazon said free cash flow for twelve months ended September 30, 2013, includes cash outflows for purchases of corporate office space and property in Seattle, Washington, of $1.4 billion.

Common shares outstanding plus shares underlying stock-based awards totaled $481 million on September 30, 2014, compared with $475 million one year ago.

For the fourth quarter of 2014, a peak holiday season, Amazon expects sales to be between $27.3 and $30.3 billion or grow between 7-18% compared with fourth quarter of 2013.

It has forecast an operating loss of between $430-570 million, compared to $510 million in the fourth quarter of 2013.

“As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever,” CEO Jeff Bezos, said.

“In addition to our already low prices, we will offer more than 15,000 Lightning Deals with early access to select deals for Prime members’” he added. (AR)

Fibre2fashion News Desk - India

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