Amazon reports $7m loss in Q2


by CBR Staff Writer| 26 July 2013

Net sales grew by 22%

Online retailer Amazon has reported a net loss of $7m during the second-quarter ended 30 June 2013, compared to a profit of $7m it reported during corresponding quarter last year.

However, net sales grew by 22% to $15.7bn compared to $12.83bn last year.

The company said its Kindle FreeTime Unlimited service has added more than 1,000 books, games, educational apps, movies and TV shows, kids' titles from Disney, Warner Bros., interactive entertainment, electronic arts and more, since its launch. CEO Jeff Bezos said the during the past quarter, company's top 10 selling items worldwide were all digital products - Kindles, Kindle Fire HDs, accessories and digital content.

"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," Bezos said.

"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."

For the third-quarter of 2013, the company expects to generate net sales of between $15.45bn and $17.15bn.

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