The chickens are not coming home to roost at Amazon just yet, but they are checking the flight schedule to Seattle, David Streitfeld reports.
Three months ago, Amazon was expected to lose 7 cents a share in the third quarter. After the retailer warned that it was investing so heavily in so many things, analysts pushed their loss projections up aggressively to 74 cents a share.
Even that was not enough. After the market closed Thursday, Amazon reported that it lost 95 cents a share. There was other disappointing news, too: Revenue came in $260 million less than analysts’ projections, and the company said it might lose money again in the fourth quarter, which in the old days was when retailers made all their profit for the year.
Even revenue growth, Amazon’s powerhouse, is fading a bit. The company said revenue would rise 7 percent to 18 percent in the fourth quarter. In the fourth quarter of 2013, revenue rose 20 percent from 2012. Read more »