Amazon losses ease up
Sales grow 79 per cent
Amazon is happy with its Q3 results as losses have been less than expected. This was attributed to it cutting shipping expenses and sales growing by 79 per cent.
The company lost $68 million in the three months to the end of September compared with a loss of $79 million for the same period a year earlier. Sales hit $638 million, but $20 million of these were to ToysRus.com at cost as part of their joint toy selling deal.
Chief financial officer Warren Jensen said: "We are driving towards profitability."
In the past 12 months 21 per cent of customers have bought goods other than books, music and DVDs. In the last quarter Amazon added 2.8 million customers bringing the total to more than 25 million as of 30 September. Sales per customer rose to $130 from $108. ®