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Amazon reports third quarter loss of £273m

Amazon has reported a third quarter loss of $437m (£273m), up from the $41m (£26m) loss it reported for the same period last year.

The etailer warned it expects to make a further loss in the next reporting period.

Net sales increased 20% to $20.6bn (£12.8bn) in the third quarter compared with $17.1bn (£10.7bn) in 2013, and are expected to grow again by 7-8% over the next three months.

In a statement accompanying the results, Amazon’s founder and chief executive Jeff Bezos said the etailer has made a number of offers, gift guides and new products available to customers in the run up to Christmas. “As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever,” he added. He did not address the loss.

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