Amazon’s gigantic operating loss sends shares sliding 10% after hours

Amazon had warned investors to expect a big loss in the third quarter and they got one on Thursday. The company saw a net loss of $0.95 per share on revenues of $20.58 billion. And Amazon had an operating loss of $544 million.

That was worse than what analysts had been expecting — a loss of $0.74 per share on revenues of $20.84 billion. [company]Amazon[/company] shares were down almost 10 percent in after-hours trading as of 4:20 PM ET.

The operating loss fell within the range that Amazon included in its guidance last quarter, when it projected a loss between $810 and $410 million.

For the fourth quarter of 2014, which includes the holidays, Amazon is projecting revenues between $27.3 billion and $30.3 billion, with operating income ranging from -$570 million to $430 million.

Amazon is holding an investor call at 5:00 PM ET and we will be on the call.