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Amazon reports $126m quarterly loss

Friday, 25th July 2014 07:34 BST (Europe/London)
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Amazon has reported a loss of $126m (
In after hours trading in the US shares slumped by 6%. Digital content Amazon has been investing heavily to build up its business, including the launch last month of its first smartphone - the Fire Phone. It has been developing digital content including computer games and TV shows. In its conference call the company said that producing its own TV shows would cost $100m in the third quarter. Amazon has also been spending money on improving its delivery systems which includes expanding Sunday delivery to 18 cities in the United States. Web services Another major cost of Amazon has been the building of its Amazon Web Services business. It provides computer services and storage for businesses and has been growing very quickly. To match that growth Amazon has been investing heavily in infrastructure and has hired "thousands" of staff for the web services operation. All that has contributed to a negative net income of $126m in the second quarter, which compares with a loss of $7m in the same quarter in 2013. That loss came despite a 23% jump in second quarter sales to $19.3bn.
Written by BBC News

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