Amazon’s Q3 results dropped not too long ago, and it packs some big numbers. While the Everything Store raked in $20.58 billion in revenue (which is more than what most small countries make in a year) it just wasn’t enough to please those pesky shareholders — the company’s stock price is down over 10 percent in after-hours trading. Amazon’s business model is the epitome of spending money to make money, except what operating profits they do post are pretty meager and big losses like today’s (think $437 million) aren’t rare. In fairness, this quarter has been a really busy one for the folks in Seattle. After all, Amazon snapped up Twitch for a billion dollars, expanded its same-day delivery service in six cities across the United States, and launched a phone that no one actually seems to want (if you’re reading, Bezos, we’d still like hard sales numbers for that thing). The question is, how much longer can Amazon afford to spend and spend and acquire and expand and develop before shareholders — the people who back the company with their own money — decide that Amazon’s not going where they want it to?
Update: So our wishes for firm Fire Phone sales numbers haven’t been answered, but we’ve now got a better idea of how it’s doing thanks to the company’s CFO. During the company’s earnings conference call, Amazon’s Tom Szkutak said it took a $170 million hit “primarily related to Fire phone inventory valuation and supplier commitment costs.” Yikes.
Latest posts by Ebenezer Obasi (see all)
- EaseUS Free Data Recovery Wizard Lets you get back lost files - August 27, 2017
- Darwin Life Aims to Impregnate 40 and Above Women with Designer Babies - June 14, 2017
- Recharge your MTN Airtime Anytime Directly from your Bank Account - December 25, 2016
Recieve Free Email Updates!
Subscribe to get new updates instantly delivered to your inbox. Select the specific category you want to recieve updates on and enter your email address below.
*A confirmation message will be sent to you, login to your e-mail account and click on the confirmation link to start enjoying this service.
Get the latest news on your Android mobile, Download our Android App
- June 17, 2014
- November 27, 2014
- December 7, 2014
- October 20, 2014
- October 22, 2014
- October 20, 2014