Thursday, October 23, 2014

Amazon.com Sales Rise To $20.58 Billion, But Loss Whacks Stock Price

Seattle-based Amazon.com announced its third quarter sales on Thursday, saying that sales rose 20 percent to $20.58 billion. However, the announcement of a net loss of $437M in the third quarter triggered a dive in the company's stock, with the company's shares down 10 percent to around $278 in after hours trading. The drop came after the company's loss was more than was expected by analysts.