Amazon Shares Rise On Q3 Revenue Growth That Beat Expectations

The e-retailer’s stock is poised to hit a 52-week high tomorrow based on post-market trading +5.2%. Amazon says it had a net loss of $41M in Q3, an 85% improvement from the period last year, on revenues of $17.09B, +23.8%. That number beat analyst forecasts for $16.76B. The net loss of 9 cents a share matches the consensus prediction. Domestic media sales were strong, rising 17.8% to $2.6B, although international was up just 1.6% to $2.4B. Excluding the impact of exchange rates, international media would have been +9%. Electronics and other general merchandise sales grew 33% in North America to $6.7B, and 23.4% abroad to $4.3B. CEO Jeff Bezos touted Amazon’s decision to greenlight pilots for six kids shows, and three half-hour shows. Amazon Prime and LoveFilm customers will be able to watch them and help decide which ones should become full-fledged series. He also said that the company’s new Paperwhite and Kindle Fire models were introduced “to positive reviews” — with response times for the new tablet’s Mayday button, a call for personal help, averaging 11 seconds.

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