Friday, July 29, 2016

Amazon crushes earnings expectations

Two weeks after its second annual Prime Day surpassed expectations, Amazon’s winning streak continued as it posted its fifth straight quarter of profitability.
The online giant posted adjusted earnings per share of $1.78 for the quarter ended June 30, easily surpassing expectations for $1.11. Net income was $857 million, compared with $92 million in the year-ago period.
Amazon Web Services (AWS) was crucial to the company’s second quarter profit performance, and accounted for more than half of its overall profits, reported . . more

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