Amazon.com fell into the red once again in its second quarter, after positive results from its overseas divisions failed to offset soft post-holiday US sales.
The company posted $847 million in revenue for the three months ending March 31, a 21 per cent increase over the $700 million in revenue reported for the same period in 2001, the company said.
Including restructuring charges and other items, Amazon reported a net loss for the quarter of $23 million, or $0.06 per share. In the same quarter a year ago, it posted a net loss including charges of $234 million, or $0.66 per share.
Excluding charges, Amazon reported a net loss for the quarter just ended of $5 million, or $0.01 per share, the company said.
The company’s core books, music, and movies segment showed an 8 per cent growth in sales year-on-year.
Overseas markets remain strong In addition, business overseas jumped during the period, with sales from Amazon’s UK, German, French and Japanese sites rising a combined 71 per cent over last year’s first quarter. Total international sales for the quarter were $226 million.
“The European stores remain strong,” said Warren Jenson, chief financial officer at Amazon, during a conference call with press and analysts. “Growth in Germany and the UK was in excess of 50 per cent.”
The company continued its price-cutting measures by discounting books priced at $15 or more by 30 per cent. Amazon had previously set a minimum price of $20 for a 30 per cent reduction.