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Home World Business

Amazon delivers record quarterly profit

byCT Report
27/07/2018
in World Business
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Amazon has reported record quarterly profits helped by a rise in online sales and demand for its cloud services.

Profits hit a record $2.53bn (£1.9bn) in the three months to the end of June – about 12 times more than it made during the same period last year.

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Sales rose by 39% to $52.89bn, slightly less than analysts had been forecasting.

Amazon’s shares jumped more than 3% in after-hours trade.

“It was a strong quarter,” said chief financial officer Brian Olsavsky. “What I attribute it to is continued strength in some of our most profitable areas.”

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