Amazon reports quarter loss despite good sales

Internet retail titan Amazon has reported a money losing quarter despite impressive growth in sales.

The US-based firm said that it had a net loss of US$126 million in the quarter that ended 30 June, widening the deficit from US$7 million in the same period a year earlier.

Sales, meanwhile, climbed to US$19.35 billion, that is a 23% rise from the second quarter of last year.

The loss came as Amazon poured money into a new Fire smartphone, original programming for its Prime subscription service, drone package delivery and other initiatives.

Amazon founder and CEO Jeff Bezos said in the earnings release: “We continue working hard on making the Amazon customer experience better and better.”

He rattled off a list of recent Amazon product or service introductions that included improved delivery operations in the US and Europe, a streaming music

service and Kindle Unlimited all-you-can-read book subscriptions.