Pay no attention to the headline of their press release, Amazon had a bad quarter. They’ve been warning about dipping into the red for a few quarters now and have narrowly avoided it each time. No more.
The company lost $274 million on sales of $13.81 billion. Yes, you read that right. Sure, a large part of it was due to the disaster that is the LivingSocial deal (a loss of $169 million as part of a goodwill write-down), but they still lost over $100 million when you take that away.
I’m sure Apple is really regretting not selling the iPad mini at Kindle Fire prices right now.