Amazon posts larger second-quarter loss, but revenue rises
SAN FRANCISCO, July 24
SAN FRANCISCO, July 24 (Reuters) - Amazon.com Inc posted a larger loss in the second quarter as its rapid pace of investment in new businesses such as digital content and same-day delivery offset revenue growth, sending its shares lower in after-hours trading.
The online retail company reported a net loss of $126 million, or 27 cents per share, compared to a loss of $7 million, or 2 cents a share a year earlier.
Amazon reported a 23 percent increase in revenue to $19.34 billion, in line with Wall Street's average prediction of $19.3 billion, according to Thomson Reuters I/B/E/S. (Reporting by Deepa Seetharaman; Editing by Bernard Orr)