Amazon reports strong earnings
Amazon.com Inc. says its second-quarter profit more than doubled and surpassed Wall Street’s expectations. Sales were strong in several sections of Amazon’s massive marketplace.
The Seattle-based Web retailer earned $158 million, or 37 cents per share, for the quarter that ended June 30. Amazon (AMZN, Fortune 500) earned $78 million, or 19 cents per share, in the same quarter last year.
Amazon’s revenue climbed 41% to $4.06 billion http://paydayloans-on.com.
Analysts polled by Thomson Financial had expected earnings of 26 cents per share on $3.96 billion in revenue.
Sales of things like books, CDs and DVDs rose 31% to $2.41 billion, while sales of electronics and other general merchandise rose 58% to $1.53 billion.
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