Friday, July 27, 2018

Amazon Q2 earnings crush Street, but revenue off slightly

Chain Store Age
Amazon reported a huge jump in second-quarter earnings amid a 49% increase in sales of its extremely lucrative cloud-computing business and a big increase in North American retail operating profit. But its revenue fell short of what analysts had expected.

In North America, Amazon’s retail sales rose 44% to $32.17 billion, boosted in part by the addition of Whole Foods Market. Its North American retail business’ operating profit skyrocketed to $1.84 billion from $436 million last year.. . . more