Amazon recorded a net loss of $274m (£170.1m) for its third quarter ending September 30, against a net profit of $63m (£39.1m) a year earlier. Sales rose 27% to $13.81bn (£8.57bn).

It was Amazon’s first quarterly loss since 2003 and included a charge of $169m (£104.9m) related to writedowns at daily deals site LivingSocial as well as investment in product development, technology and logistics.