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 | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |