A 22 percent revenue increase in its second quarter wasn’t enough to keep Amazon from reporting an unexpected $7 million loss on Thursday, which it attributed partially to a weakened European economy. The company’s stock, which has been up more than 20 percent for the year overall, tumbled more than 2 percent in after-hours trading. The stock price dipped below the $300 mark it hit for the first time earlier this month, but recovered going into Friday afternoon, inching past $307 per share.
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Amazon Shakes Off Small Q2 Loss
Posted by: Rachelle Dragani July 26, 2013 11:47 AMA 22 percent revenue increase in its second quarter wasn’t enough to keep Amazon from reporting an unexpected $7 million loss on Thursday, which it attributed partially to a weakened European economy. The company’s stock, which has been up more than 20 percent for the year overall, tumbled more than 2 percent in after-hours trading. The stock price dipped below the $300 mark it hit for the first time earlier this month, but recovered going into Friday afternoon, inching past $307 per share.