Amazon posts heavy third-quarter lossesOctober 24, 2014 - 15:08 AMT PanARMENIAN.Net - Amazon has reported heavy losses during its third-quarter earnings calls, and there could be darker times ahead, according to Digital Spy. The internet retailer posted spiralling net losses of $437 million - or 95 cents a share - for the period in question, compared to a net loss of $41 million this time last year. There was somewhat better news where revenue is concerned, with the firm raking in $20.58 billion, narrowly missing expectations of $20.84 billion. Although Amazon is anticipating further deficits over the festive period, its free cash flow increased to $1.08 billion during the third quarter. The deficit was attributed to pricy acquisitions and below-par hardware sales, with the company's Fire Phone believed to have fallen short of expectations and its takeover of games streaming site Twitch costing $1 billion. Amazon's stock fell by 11% to $278.88 after the results were announced. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |