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Amazon's quarterly profits soar past $2bn for first time

Amazon has released its latest quarterly earnings, proving once against the world's largest online retailer is still one of the most tremendous juggernauts in digital earnings, Independent reported.

Istanbul, July 27 (DHA) - Amazon has released its latest quarterly earnings, proving once against the world's largest online retailer is still one of the most tremendous juggernauts in digital earnings, Independent reported.
The company's quarterly profit soared past $2bn for the first time, as revenue from online shopping and its cloud computing business grew.
These were a "big contributor" to the climbing profit margins, Amazon CFO Brian Olsavsky said in a conference call, adding that improved "efficiencies" in warehouses and data centres also led to a boost in revenue.
The Seattle-based company reported net income of $2.53bn, or $5.07 per share, for the three months ending June 30. That blew past the $2.48 per share Wall Street analysts expected, according to FactSet.
The company’s revenue also includes that of Whole Foods, the grocery chain its acquired last year. The acquisition helped Amazon's revenue soar year-to-year by nearly 39 percent, climbing over $32bn in North America and more than $14bn internationally.

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