Amazon, Inc. (AMZN) Q2 2013: Revenues Shoot Up, But Reports $7 Million Net Loss
Amazon, Inc. (NASDAQ:AMZN) has released their Q2 2013 earnings. Amazon.com reported revenues of $15.7 billion with a loss of 2 cents per share. The company reported a $7 million net loss for the quarter. One year ago, Amazon.com reported earnings of 7 cents per share on $12.8 billion in sales. Even though revenues are up, analysts have mixed feelings due to Amazon.com’s profit report.
“We’re so grateful to our customers for their response to Kindle devices and our digital ecosystem. This past quarter, our top 10 selling items worldwide were all digital products – Kindles, Kindle Fire HDs, accessories and digital content,” stated Amazon.com CEO Jeff Bezos said. “The Kindle service keeps getting better. The Kindle Store now offers millions of titles including more than 350,000 exclusives that you won’t find anywhere else. Prime Instant Video has surpassed 40,000 titles, including many premium exclusives like Downton Abbey and Under the Dome. And we’ve added more than a thousand books, games, educational apps, movies and TV shows to Kindle FreeTime Unlimited, bringing together in one place all the types of content kids and parents love.”
Amazon is forecasting revenues at being between $15.45 billion to $17.15 billion for Q3. The company’s stock is currently up $4.46 at $303.40, which is 1.49% higher than yesterday.