Amazon takes in a lot of money, but the e-commerce giant doesn’t bank much money. That was true again, even more than usual, in the second quarter of 2014, Amazon said in its earnings report on Thursday.
Amazon recorded $19.3 billion in revenue for the second quarter, up 23% from the quarter a year ago. However the company actually lost money, and much more than is standard for the notoriously profit-averse company, turning in a second-quarter loss of $126 million, wider than analysts’ $66.7 million average estimate and a $7 million loss a year earlier.
Even Wall Street — which usually stomachs Amazon’s nearly nonexistent bottom line, quarter after profit-lean quarter, more or less buying into CEO Jeff Bezos’ long-term vision — had a hard time nodding along to the company’s latest turn to the red. Investors dropped Amazon’s stock by more than 5% in after-hours trading on Thursday.
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