NEWS WRAP: Sales are up but shares are down for Amazon

Amazon shares have fallen after it announced strong sales and a big loss.


The company reported Thursday that its revenue increased in the second quarter to $19.34 billion, up 23% from a year ago, matching Wall Street expectations.


However it also posted a net loss of $126 million, or 27 cents a share, compared with a forecast loss of 15 cents a share.


Its stock fell about 10% following the announcement.


Facebook and Uber discussing partnership

Facebook’s Mark Zuckerberg has held preliminary talks with Uber CEO Travis Kalanick about potentially embedding Uber’s car service into the Facebook Messenger app, sources tell Re/code.


If completed, the deal would be a first step towards Facebook’s goal of turning the Messenger app into an e-commerce platform, modelled in part after Asian competitors WeChat and Line.


New Oculus Rift ships

Developers were expecting to get their hands on the new iteration of the Oculus Rift earlier this month, but its release was delayed.


It appears it will ship very soon with Road to VR reporting that users in the subreddit r/oculus/ who have pre-ordered the DK2 have received emails stating shipping of the device is imminent.



The Dow Jones Industrial Average is down 2.83 to 17,083.80. The Australian dollar is currently trading at US94 cents.

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