Business

Amazon narrows 3Q loss as sales jump 24 pct

Posted October 25, 2013 6:32 am

Associated Press

SEATTLE — Amazon.com says that its fiscal third-quarter loss narrowed as revenue grew 24 percent.

The Seattle-based online retailer also said Thursday that it expects growth in its fourth-quarter revenue, indicating confidence as it enters the key holiday shopping season.

Amazon posted a loss of $41 million, or 9 cents per share, for the quarter that ended in September. That is compared with a loss of $274 million, or 60 cents per share, in the same quarter last year. The prior year includes a one-time $169 million loss related to its stake in online deals site LivingSocial.

Revenue came to $17.09 billion from $13.81 billion.

Analysts were anticipating a loss of 9 cents per share on $16.76 billion in revenue.

Shares rose nearly 7 percent in after-hours trading.

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