If you thought Amazon’s prices seemed too good to be true, 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 loss this past quarter. And while a big chunk of that was due to losses at LivingSocial and foreign-exchange rates, all is clearly not well on Mount Bezos. Amazon remained silent on just how many Kindle devices it has sold, but reiterated that it doesn’t make any money off of the ones that it has. Read the full story at Gizmodo.
Amazon Somehow Loses $274 Million Selling $13.8 Billion Worth of Stuff
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).