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San Francisco - Amazon.com posted a much larger-than-expected loss in the second quarter as its rapid pace of investment in businesses such as digital content and consumer electronics offset a 23% jump in revenue.
Shares of Amazon have slid 10% so far in 2014, as investors grow increasingly leery of betting on potentially rapid long-term growth at the expense of little to no profit.
On Thursday, the stock fell another 6% in late trade, after the largest US online retailer posted a loss of 27 cents per share, nearly double Wall Street's average estimate for a loss of 15c.
Amazon has invested heavily in several new business lines, from a subscription book service and digital video content to a TV streaming-box and an upcoming Fire smartphone.
On Thursday, it reported a net loss of $126m, or 27c per share in the second quarter, compared to a loss of $7m, or 2c a share a year earlier.
It reported a 23% increase in revenue to $19.34bn, in line with Wall Street's average prediction of $19.3bn, according to Thomson Reuters I/B/E/S.
The company's stock was at $337 in extended trade, down from a close of $358.61 on the Nasdaq.
Shares of Amazon have slid 10% so far in 2014, as investors grow increasingly leery of betting on potentially rapid long-term growth at the expense of little to no profit.
On Thursday, the stock fell another 6% in late trade, after the largest US online retailer posted a loss of 27 cents per share, nearly double Wall Street's average estimate for a loss of 15c.
Amazon has invested heavily in several new business lines, from a subscription book service and digital video content to a TV streaming-box and an upcoming Fire smartphone.
On Thursday, it reported a net loss of $126m, or 27c per share in the second quarter, compared to a loss of $7m, or 2c a share a year earlier.
It reported a 23% increase in revenue to $19.34bn, in line with Wall Street's average prediction of $19.3bn, according to Thomson Reuters I/B/E/S.
The company's stock was at $337 in extended trade, down from a close of $358.61 on the Nasdaq.
