Amazon posts 3Q loss, results miss Wall Street forecasts

SEATTLE – SEATTLE (AP) _ Amazon.com Inc. (AMZN) on Thursday reported a third-quarter loss of $437 million.

The Seattle-based company said it had a loss of 95 cents per share.

The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 73 cents per share.

The online retailer posted revenue of $20.58 billion in the period, also falling short of Street forecasts. Analysts expected $20.82 billion, according to Zacks.

For the current quarter ending in December, Amazon said it expects revenue in the range of $27.3 billion to $30.3 billion. Analysts surveyed by Zacks had expected revenue of $31.03 billion.

Amazon shares have dropped 21 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5.5 per cent. In the final minutes of trading on Thursday, shares hit $313.46, a decrease of 4 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. AMZN stock research report from Zacks: http://www.zacks.com/ap/AMZN

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