SEATTLE — Shares of Amazon.com Inc. fell Thursday after the e-commerce retailer reported a second-quarter loss as expenses outpaced revenue.
Amazon has long focused on spending the money it makes to grow. Amazon is introducing its own smartphone, the Fire, which starts selling Friday.
The company has been heavily investing in services for its loyalty program, Prime, which costs $99 a year, and includes free two-day shipping on many items.
Investors are usually accepting of Amazon’s thin profit and focus on strong revenue growth. Butthe Seattle-based company’s shares fell $35.17, or 9.8 percent, to $323.44 in Thursday’s aftermarket trading.