Losses were tenfold compared with revenue, but the Web retailer still racked up sales of $1 billion without the help of a holiday buying period.
Amazon.com Inc. ended its first quarter outside the holiday season with more than $1 billion in sales.
The Web retailer lost $10 million on $1.1 billion in sales for the quarter ended March 31. The company made $39 million on an operating basis, but interest on its $2.3 billion in debt and some noncash expenses swallowed those gains.
Amazon predicts its strategy of cutting costs so it can lower prices will let it keep the $1 billion-plus sales pace in the second quarter and reach at least $4.7 billion for the year, which would be 19% growth over last year.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of September 18, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."