(MENAFN) Seattle, Washington on-line sales firm Amazon reported its first quarterly loss in almost a decade, hit by higher operating costs and a big writeoff, Oman Tribune reported.
The world's largest online retailer said it booked USD274 million loss during the third quarter, versus USD63 million profit a year earlier. Revenues in the period climbed 27 percent to USD13.8 billion.
The poor quarterly results were attributed to a rise in operating expenses including cost of sales, marketing and technology.
Amazon also reported a writedown of USD169 million for its stake in online deals group LivingSocial, under accounting rules requiring a charge against earnings to reflect the lower estimated value of the company.
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