Amazon is moving away from shifting goods to becoming a greater technological presence
Online retail giant Amazon has reported it lost $7m (£4.56m) in the second quarter of the year.
The loss compares with a profit of the same amount for the same period last year and comes despite a 22% rise in sales to $15.7bn for the April to June quarter.
The company is trying to diversify away from simply warehousing and selling gadgets to provide broader technologies, such as tablets.
Its shares fell by 2% on the news.
The online giant is spending billions trying to expand into a broader technology company, which also involves competing hard in China.
For the coming quarter, Amazon forecast sales of between $15.45bn and $17.15bn, or an increase of between 12%-24%.
Founder and chief executive, Jeff Bezos, said the emphasis on technology was clearly showing, with its Kindle tablet computer continuing to sell very well: "This past quarter, our top 10 selling items worldwide were all digital products - Kindles, Kindle Fire HDs, accessories and digital content."
Source: BBC News - Business http://www.bbc.co.uk/news/business-23460282#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
