Online bookseller Amazon.com reported sharper than expected losses in its fourth fiscal quarter results, but turnover for its seasonally busiest period ballooned by 167 per cent.
For the three months ending 31 December 1999, revenue increased to $676 million compared with $252 million in 1998. Net loss plummeted to $323.2 million or 96 cents per share compared with a loss of $46.4 million or 15 cents a share in 1998.
The figures include stock based compensation and acquisition-related costs. Excluding these items, Amazon reported a loss of $184.9 million or 55 cents a share compared with a loss of $22 million or seven cent a share in 1998. Analysts polled by researcher First Call had predicted a loss of 45 cents a share.
For fiscal 1999, Amazon reported sales up 169 per cent to $1.639 billion compared with $609 million in fiscal 1998.
Amazon's German and UK sites sold about $71 million worth of items during the quarter, accounting for some 19 per cent of the company's total revenue. These international sites have a run rate of about $280 million.
Amazon's US-only music channel provided the biggest growth during the period with sales reaching $78 million, up 136 per cent from the same period in 1998.
"We did a good job delivering for customers this [Christmas]," said Jeff Bezos, Amazon's chief executive.
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