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Amazon losses continue, third quarter results in $25 million drop

updated 06:02 pm EDT, Thu October 24, 2013

Fourth quarter expected to fall within a $500 million loss and $500 million gain

Amazon today announced financial results for its third quarter that ended on September 30. Net sales increased 24 percent to $17.09 billion in the third quarter, compared with $13.81 billion in third quarter 2012. Despite the increase, operating loss was $25 million in the third quarter, compared with an operating loss of $28 million in third quarter 2012.

"In the last 90 days, our AWS team got back to work on a big government contract, we brought eight million square feet of fulfillment center capacity online, deployed 1,382 Kiva robots in three fulfillment centers, provided a new venue for artists to reach customers, signed up millions of new Prime members, announced Kindle MatchBook, Login & Pay, and nine new original TV pilots, joined the Code.org coalition, acquired TenMarks -- a company that helps kids with math -- scored a win for customers who want to use Kindles on airplanes even during takeoff and landing (also, a big hat tip to Nick Bilton on that one), began hiring and training 70,000 new U.S. FC employees to help serve customers this holiday season, and saw the Kindle Million Club grow to include 14 KDP authors," said CEO Jeff Bezos about the quarter.

Amazon notes that it is creating more than 70,000 full-time seasonal jobs across its US fulfillment centers this holiday season in order to meet an increase in customer demand. In 2012, Amazon converted thousands of seasonal employees into regular, full-time roles after the holidays, and expects to do the same this year.

For the fourth quarter 2013, net sales are expected to be between $23.5 billion and $26.5 billion, or to grow between 10 and 25 percent compared with fourth quarter 2012.



By Electronista Staff
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