LivingSocial investment leads Amazon's quarterly loss

Company makes £170m loss in last quarter
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Amazon has reported a bigger than expected quarterly loss, led by an investment in daily-deals firm LivingSocial.

The etailer made a loss of $274m (£170m) for the last quarter, compared with a profit of $63m for the same period last year.

The results include a loss of 37 cents per share related to Amazon’s minority stake in LivingSocial. Excluding this charge, the company would have still lost 23 cents per share.

Despite revenue growing 27 per cent to $13.81bn, this was still short of analysts’ expectations of $13.91bn.

Amazon said its best-selling product was the Kindle Fire HD, but did not release exact sales figures. The company’s shares fell three per cent in after hours trading.

The online retailer's latest Kindle, the Paperwhite, began shipping yesterday in the UK, after opening pre-orders two weeks ago.

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