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Amazon loss widens in Q3

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Amazon.com revealed massively widening losses when it posted its third-quarter results, yesterday. The company was in the red to the tune of $24.7 million, well up on the $9.6 million it posted last year. The Q3 loss also excludes merger and acquisition-related charges, which took the loss to $45.2 million. Still, the loss was less than Wall Street had anticipated -- analysts were predicting a 57c per share loss, compared to the 49c per share the company posted -- thanks to the strength of Amazon's music sales. The company has sold $14.4 million of CDs in Q3. It opened its music section in June. Overall, its revenues reached $153.7 million around four times as much as it made for the same period last year. Amazon also said it 1.2 million more customers used its site druing the quarter, bringing the total number of accounts to 4.5 million. It also claimed over 64 per cent of its Q3 business came from repeat orders. ® Click for more stories Click for story index

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