Amazon Reports Loss

What is this, 1997? Amazon’s reported earnings for the second quarter on Thursday fell short of Wall Street forecasts, as its operating expenses skyrocketed 23 percent in the quarter. While its net sales rose 22 percent to $15.7 billion for the quarter compared with $12.83 billion last year, the increase in expenses caused a loss of 2 cents a share. Analysts had been expecting earnings of 5 cents a share on sales of $15.73 billion.