Feeds

Amazon splashes less red ink

Sales grow 22 per cent

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Amazon.com posted a net loss of £234 million for the first quarter.

Losses for the three months ended March 31 2001 were lower than Q1 2000, when the e-tailer lost $308.4 million. Losses per share were 66 cents per share, compared to 90 cents per share for the same period last year.

The net loss included costs of $114 million, which covered previously the announced restructure and other expenses, and a net gain of $23 million. Sales grew 22 per cent to $700 million.

"This was another quarter of significant progress for Amazon.com - we are on track to reach our objective of pro forma operating profitability in the coming December quarter," said Warren Jenson, Amazon CFO.

The Seattle-based dotcom said it added three million customers during the quarter, including one million international users. This brings its customer accounts to 32 million, including six million international customers. The most popular items bought were from its electronics, tools and kitchen stores.

In January Amazon warned it would lay off 1,300 staff, around 15 per cent of its workforce, and take a $114 charge during Q1.

Today the company said it expected to take an additional charge of $50 million, including restructuring costs, in the second quarter. It expects Q2 sales to be the same or slightly lower than Q1, at between $650 million and $700 million. For full year 2001, it expects sales to be 20 to 30 per cent higher than 2000.

Meanwhile, Amazon is being sued by unhappy shareholders for "misleading" them over the state of its finances, and the FBI is believed to be investigating Bezos regarding stock sales. ®

Related Link

AmazonQ1 statement

Related Stories

Amazon forecasts smaller losses for Q1
Amazon remainders 1,300 staff
Amazon sued by its shareholders
Amazon's Bezos investigated by Feds

Choosing a cloud hosting partner with confidence

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.