Amazon warns of potential loss this quarter

MCV Staff 1st February 2012 Business News

Online retailer Amazon has warned that it may well post a loss for its current financial quarter.

This is despite a 35 per cent leap in revenues for the quarter ending December 31st, which hit $17.43bn. Despite this net income, fell 70 per cent from $416m in 2010 to $117m.

One of the retailer’s big successes was Kindle, which saw sales climb 177 per cent year-on-year and was the most purchased item on Amazon.co.uk.

Despite the assurance that potential losses are mainly down to investment, the claims were not enough to stop Amazon’s share value falling eight per cent in the hours after the announcement.

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