Amazon on Thursday reported a net loss of $7 million, or 2 cents a share, on $15.7 billion in revenue for its second quarter. The company's sales figure, up 22 percent from the year-earlier quarter, was on target, but analysts had expected a 5 cents-per-share profit.
Also, Amazon said that it anticipates third-quarter revenue between $15.45 billion and $17.15 billion, which falls short of the consensus for $17 billion. At the same time, Amazon projected a net loss for the quarter.
Wall Street does not like these sorts of surprises and the knee-jerk reaction was to … Read more