Amazon's latest earnings report does not paint a pretty picture.
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As reported by The Verge, Amazon's third quarter earnings report posted a $544 million loss. This loss represents more than twenty times what was lost through the same period last year, despite what were actually increased revenues.
The cost of video game streaming service Twitch for $1 billion took a good chunk out of the company, as did a $2 billion investment into the Indian market. These investments are meant to turn a future profit, but the same cannot be said of the expenditure for the Fire Phone. The smartphone has was not well-received by critics, and fans have not at all taken to the product--see its poor sales earlier this year.
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The gloom doesn't look like lifting any time soon, either--Amazon projects further losses for next quarter. Stocks dropped around 10 percent following the report, but have very slightly reversed since. Losses are expected to reach $570 million, and it could be worse--the revenues increased this quarter, but even then it was not by as much as investors hoped. Amazon has a bit of a history of investing and putting money into the company rather than increasing its stock value for investors, which (for the company) will hopefully continue to work.
