Amazon lose nearly $500 million
Amazon lost nearly $500 million in the last three months. Oh no! The US company reported a loss of $437m in the three months to September, which is 10 times the $41m they reported for the same period last year.
Well that's just careless.
Shares in the company dropped 5%. However revenues rose 20% to $20.58bn, missing market expectations of $20.85bn.
Amazon do tend to report losses, but the fall in share price could indicate investors have had it with the company's direction.
Operating expenses went to $14.6bn from $12.4bn in the same three months of 2013, mainly due to chief executive Jeff Bezos going off shopping around, buying the likes of Netflix, Hulu and various other bits.
It's not all gloom and doom though as it's 'the holiday season' and the company expects net sales of between $27.3bn and $30.3bn for the next three months, even if it is - boohoo - down on the $30.89bn analysts had expected.