The world’s largest online retailer, Amazon, grew significantly in the past quarter. Sales rose 11 percent year-on-year to $134.4 billion (€122.8 billion), as Amazon announced on Thursday after the US stock market closed. Analysts had expected revenue of $131.49 billion.
Operating profit jumped from $3.3 billion to $7.7 billion. The bottom line was a profit of $6.7 billion after a loss of $2 billion a year earlier. Amazon’s results also beat analysts’ expectations.
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The lucrative cloud business around the Amazon Web Services platform increased revenue by twelve percent to $22.1 billion. AWS offers large and small companies computing power and storage services on the network.
The forecasts for the current third quarter also exceeded market expectations. Amazon assumes group sales of between 138 and 143 billion dollars.
Amazon shares are higher in US after-hours trading on the NASDAQ, gaining 6.69 percent to $137.53 in an initial reaction.
Editorial office finanzen.net with material from dpa (AFX)
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