Amazon Shares Rise on Operating Loss Below Estimates
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Amazon.com Inc. rose the most in three months after posting a smaller operating loss than analysts had predicted, suggesting that the world’s largest online retailer is doing a better job managing rising costs.
The third-quarter operating loss was $28 million, Amazon said in a statement yesterday, less than the average analysts’ estimate for a $42.1 million loss. Sales rose 27 percent to $13.8 billion, less than the average analyst projection of $13.9 billion compiled by Bloomberg.