Amazon shares were battered Thursday after Q3 losses exceeded Wall Street estimates, despite a 20 percent jump in sales.
Net loss was $437 million in the third quarter, or $0.95 per share on revenues of $20.58 billion. Analysts had been expecting a loss of about $0.76 per share. This compared with a loss of $41 million or $0.09 per share in the 2013 third quarter.
Also read: Amazon Q2 Losses Larger Than Anticipated
The news, announced after the market closed, sent Amazon stock down nearly 10 percent in after-hours trading.
The results left Amazon CEO Jeff Bezos looking ahead to the traditionally strong fourth quarter.