Microsoft Ex-CEO Ballmer: Amazon is Not a "Real Company"
David Curry | | Oct 25, 2014 12:56 PM EDT |
(Photo : Reuters) Microsoft's ex-CEO Steve Ballmer has accused Amazon of not being a "real company" after continuing to make zero profit for the past few years.
Microsoft's (MSFT) ex-CEO Steve Ballmer might not be the best authority when it comes to running a company, considering under his management at Microsoft, the company missed the mobile and tablet market, alongside screwing up Windows 8 and Surface.
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One thing Ballmer was good at, however, was keeping Microsoft in the black. HIs outlook on the enterprise sector and push into new services kept Microsoft afloat through the worst years - and for most years Microsoft reported a steady profit.
This is something Amazon (AMZN) has not been able to do, as the company recently reported a $544 million operating loss for the third quarter. This is not the first time Amazon has reported a loss either; last quarter Amazon announced a $126 million loss.
Amazon's CEO Jeff Bezos spends a lot of money on R&D and does not make devices or services with high-profit rates. Some of Amazon's services run at a loss, with the company looking at the long-term, where they intend to break even.
Ballmer talked about how Amazon is valued at $150 billion, but never brings home any money for investors. Speaking on the Charlie Rose show, the new owner of the Los Angeles Clippers said "If you are worth $150 billion, eventually somebody thinks you're going to make $15 billion pre tax. They make about zero, and there's a big gap between zero and 15 [billion]."
Amazon does not seem worried however, with even more investment pouring into R&D and other services - they even projected a larger loss in the fourth quarter.
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