'Net giant's loss narrows

Wednesday, July 23, 2003 | 9:48 a.m.

SEATTLE -- Amazon.com Inc. narrowed its net loss for the second quarter, as free shipping and steep discounts helped the Internet retailer exceed analysts' forecasts and prompted it to boost its yearly sales projections.

For the April-June quarter, Seattle-based Amazon.com said Tuesday it lost $43 million, or 11 cents a share, compared to $94 million, or 25 cents a share for the same period a year ago. Quarterly revenue was $1.1 billion, up 37 percent.