Amazon, the US eCommerce marketplace, has reported that its stock decreased by about 11% in after-hours trading Thursday. The company revenue increased by up to 20% from the same time last year but anyway, they reported a $437 million loss in the last quarter.
It’s not the first time that one of the best multi vendor malls Amazon faces money losses. They frequently report losses or small revenue because the company spends a lot of money for developing new revenue streams.
For the last several quarters, shareholders have responded by sending the stock down. The 11% dip could mean the company lost $14 billion in value, depending on where it opens in Friday trading.
The last quarter has been very busy for the online mall platform Amazon. The company reported about new ventures such as updates to its tablets and e-readers Kindle, new streaming shows, a grocery delivery service, a 3D printed products store and other investments.
The Amazon online mall made a revenue of $20.6 billion in this quarter. But they reported that the loss had increased more than ten times compared to last year.
The next quarter also doesn’t seem to bring good news. Amazon announced that it could lose $570 million.
Things aren’t looking pretty next quarter, either. The internet marketplace platform Amazon warned it could report a $570 million loss, which would be a billion-dollar swing from profitability last year. The company’s stock is down by 20% for the year so far.