Amazon Profits Dip as Sales Rise

0 comments
Source Title:
Amazon profits dip as sales rise
Story Text:

A BBC report gives Amazon profits for the three months to June as down 32% to $52m (£29.9m) from $76m in the same period last year. Sales in contrast were up 26% to $1.75bn. The reasons for profit decline appear to be accounting one offs, though shipping costs did hit margins. Shares in the group rose $3.01, or 8%, to $40.75 in after hours trading as Amazon's results were released after the bell.