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Amazon Posts Double Digit Sales Growth For Q3

Amazon posted net sales of $17.09 billion for Q3 2013, up 24% from the $16.8 billion in net sales posted for the quarter last year, beating analyst estimates of $16.7 billion in sales for the quarter. However, the online retail giant posted a loss for the quarter, in line with analyst estimates.

Operating loss for the third quarter was $25 million, compared with an operating loss of $28 million in third quarter 2012. The $41 million third quarter net loss includes a loss of $169 million related to the company’s equity-method share of the losses reported by LivingSocial, primarily attributable to its impairment charge of certain assets, including goodwill, according to Jeff Bezos, Amazon CEO.

The company attributed some of its sales growth to new Kindle offerings, such as the new Paperwhite and Kindle Fire HDX.

For fourth quarter, Amazon anticipates net sales to be between $23.5 billion and $26.5 billion, or to grow between 10% and 25% compared with fourth quarter 2012.