Amazon results disappoint despite sales increase

Amazon reported third quarter results below expectations, including a large loss related to its stake in online coupon business, LivingSocial.

Despite a 27% increase in Q3 sales Amazon the company’s investment programme cancelled out US$13.8 billion of sales.

Amazon posted a loss of US$274 million, down from earnings of US$63 million a year earlier.

Amazon said its US$199 Kindle Fire HD tablet is its best-selling product worldwide.

The company predict next quarter sales of between US$20.3 billion and US$22.8 billion – a rise of 16% to 31%.