Business

Amazon books loss, shares fall

Amazon.com reported revenue that missed analysts’ estimates and posted the first quarterly net loss since 2003, hurt by higher expenses and its investment in LivingSocial.com.

The third-quarter net loss was $274 million, or 60 cents a share, compared with net income of $63 million, or 14 cents, a year earlier. Sales rose 27 percent to $13.8 billion, compared with the $13.9 billion average analyst projection compiled by Bloomberg.

Amazon shares fell 2% to $221.05 after-hours. They dropped 2.4% in the regular session.

CEO Jeff Bezos is opening 19 fulfillment centers worldwide to offer speedier delivery to customers during the holiday shopping season, contributing to a 28 percent increase in operating expenses. Amazon also boosted spending on technology and content as it worked to expand video offerings and its line of Kindle tablets.