Amazon has today revealed its financial results for Q3 2014 and things don’t look to good for the online retailer.
The third quarter ended on September 30th, and reveal that the company made a net loss of $437 million in the third quarter, which is $0.95 per diluted share. In Q3 2013 Amazon’s net loss was $41 million, or $0.09 per diluted share.
Despite this Amazon’s net sales did increase by 20 percent in the quarter, revealing total net sales of £20.58 billion for the this quarter, which is up from $17.09 billion since Q3 2013.
The company also missed some of the estimates from Wall Street, who expected the company to make a $0.84 loss per share, with forecasts expecting $20.58 billion in sales.
Since the news broke that they missed this Amazon’s stock fell almost 10 percent in closing.
Amazon expects good things to come from Q4 2014 however, revealing expectations for net sales of between $27.3 to 30.3 billion, which is a 7 or 18 percent growth from Q4 2013. With this the company expects to fall between a $570 million loss, or $430 million gain.