Amazon Loss Widens as CEO Alarms Investors With Spending
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Jeff Bezos is testing the patience of investors after Amazon.com Inc. missed analysts’ estimates for a second straight quarter, sending the shares tumbling almost 10 percent.
The world’s largest online retailer yesterday reported a second-quarter loss of $126 million, more than double what was predicted, even as sales climbed 23 percent to $19.3 billion. Expenses jumped 24 percent to $19.4 billion.