If you think Amazon ’s prices seemed too good to be on-key , well , it turns out they might be — for Amazon , at least . The company managed to turn $ 13.8 billion of revenue into a $ 274 million red this past stern . And while a big chunk of that was due to losses at LivingSocial and foreign - exchange rates , all is distinctly not well on Mount Bezos .
Amazon remained mum on just how many Kindle devices it has sold , but repeat that it does n’t make any money off of the ones that it has . Said CEO and likely Superman villain Jeff Bezos :
“ Our approach is to work hard to burden less . Sell devices near breakeven and you’re able to pack a deal of sophisticated hardware into a very low price gunpoint … And our approach is working — the $ 199 Kindle Fire HD is the # 1 bestselling product across Amazon worldwide . Incredibly , this is dead on target even as measured by whole sales . ”
The approach may be working in terms of moving social unit , but that distinctly has been translating into less and less profit . But hey , that just mean you ’re fix every bit the bargain you cogitate you were .
The big orca appear to be that LivingSocial investing ; while Amazon does n’t own the day-after-day deals company instantly , it has a major stake in its flailing business . One that amounted to a $ 169 million hit against its bottom line of work these last three months alone .
Amazon ’s going to be bear a call at 5PM EDT to discuss what happened in more item ; we ’ll be update as necessary . For now , though , clearly Amazon bet like a ship that need righting . Or maybe it just take to give off some of that LivingSocial light ballast . [ Businesswire ]
AmazonKindleKindle Fire HD
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