Amazon reports 24 percent sales gain’s revenue rose more than Wall Street expected in its fiscal third quarter, but the online retailer posted another loss due to ongoing investments in its business.

Steady profits have proven elusive for the world’s largest online retailer as it spends heavily on filling orders, marketing and technological improvements and innovations. But investors were cheered by its revenue forecast for the fourth-quarter, a sign of confidence and optimism as it enters the key holiday shopping season. Shares rose 8 percent in after-hours trading.

Amazon has been busy launching new products, expanding the number of fulfillment centers and adding robots to its line to help get packages out the door. Operating expenses rose 24 percent during the quarter.

The Seattle-based company posted a loss of $41 million, or 9 cents per share, for the quarter that ended in September, matching analyst expectations. That compared with a loss of $274 million, or 60 cents per share, in the same quarter last year. The prior year includes a one-time $169 million loss related to its stake in online deals site LivingSocial.

Revenue jumped 24 percent to $17.09 billion from $13.81 billion. Wall Street predicted $16.76 billion, according to FactSet.

Amazon said it expects revenue for its fourth quarter to fall between $23.5 billion and $26.5 billion, bracketing analysts’ prediction of $25.88 billion. That’s also up 10 to 25 percent from its fourth quarter last year.

Shares of Inc. increased $27.19 to $359.90 after the market’s close. Its shares increased $5.45 to close regular trading at $332.21 Thursday, up 32 percent this year.

More in Herald Business Journal

Housing boom in Puget Sound region missing crucial element: Condos

Developers are only building high-end condos where there’s enough margins to cover potential litigation.

Somers sees Paine Field as focal point of a thriving county

In an annual speech, he also acknowledged challenges such as opioid addiction, crime and homelessness.

Trump orders huge tariffs on China, raises trade war worries

Business groups worry China will target U.S. exports of aircraft, soybeans and other products.

Can Zuckerberg’s media blitz take the pressure off Facebook?

The generally reclusive CEO sat for an interview on CNN and gave another to the publication Wired.

Professor: Workplace is 5th leading cause of death in the US

Long hours, lack of health insurance, little autonomy and high job demands are killing us.

Will thousands of new apartments in Snohomish County mean lower rents?

Experts debate the meaning of a recent price drop, one of the biggest decreases in more than a decade.

Airbnb listings: Learn how to read between the lines

Places close to nightlife aren’t for everyone.

City of Atlanta computer network hit by ransomware attack

The outage included the encryption of some city data.

Few retired people expect to pay off mortgages, survey finds

32% predict that they will be paying their mortgage for at least eight more years.

Most Read