Amazon's expand-at-all-costs strategy did
not pay off in the second quarter as the web's largest retailer lost
7 million dollars despite a 22-per-cent upswing in revenues to 15.7
A year ago the company reported a profit of 7 million dollars on revenue of 12.83 billion dollars. The company's continued bid to expand in areas like cloud computing and in high growth markets including China have crimped its ability to generate short-term profits on its massive turnover.
The expansion trap is likely to continue, according to the company's third-quarter forecast, which predicted revenues between 15.45 billion dollars and 17.15 billion dollars, with income ranging from a loss of 100 million dollars to a profit of 275 million dollars.
Most Popular Stories
- #myNYPD Twitter Campaign Backfires for NYPD
- First-time Jobless Claims Jump by 24,000
- Pols Back Away From Bundy After Racist Statements
- Putin Says Internet Is CIA Plot
- Freshman Senators Speak Out on Foreign Policy
- Durable Goods Orders Rose More Than Expected
- Nasdaq OMX Profits Soar in Q1
- Justin Bieber's War Shrine Pic Causes Flap
- Wellness Programs Grow More Popular With Employers
- John Oliver Set for 'Last Week Tonight'