Amazon profit rises but sales growth could slow

Amazon revenue jumps 39 percent in second quarter

Amazon did suffer a rare setback last week, when its Prime Day sales event began with technical issues. It's the company's third straight quarter of posting more than $1 billion in net profit.

In the period, that segment's sales rose 44%, to $US32.17 billion, boosted in part by the addition of Whole Foods, which Amazon didn't own in the second quarter a year ago. (NASDAQ:AMZN) news were published by: "Nasdaq.com which released: "Don't Consider Price When Looking to Buy Cheap Stocks" on July 25, 2018, also Bizjournals.com with their article: "Amazon soon will deliver its Lake Nona fulfillment center â€" the area's largest industrial project" published on July 23, 2018, Seekingalpha.com published: "Microsoft Soaring To All-Time Highs" on July 26, 2018.

Amazon's cloud businesses plus its lesser-known advertising business fueled profits in the company's Q2 earnings record.

Although Amazon missed its analysts' expectations of $53.35 billion on sales, the company's stock was still up almost 4% in midnight trading Thursday. That dynamic flipped on Thursday, propelling the 24-year-old company into a potentially steadier phase. Analysts had modelled operating profit of $1.47 billion and sales of $6.1 billion for AWS, according to figures compiled by Thompson Reuters. "We're really pleased with the retail growth", Olsavsky said, "We think it's driven by the Prime program and the engagement of Prime customers as well as increased selection, particularly third-party selection".

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But Amazon's eye-popping growth has also led to increased scrutiny over the possibility that the company's market dominance gives it monopoly power.

Amazon's total costs increased almost 37 per cent in the three months ending in June to $49.9bn, as the firm invested heavily into its premium service Prime across its online video, warehouse and delivery infrastructure. "Earnings per share were $5.07, smashing analysts" estimations of $2.50.

It should be noted that Amazon has a bit of advantage in the advertising space, as adverts reportedly tend to result directly in sales, as they target customers on Amazon who are already intending to shop, unlike adverts on say Facebook and Google. The company said revenue from the category and some other items grew 132 percent to $2.2 billion.

The unit's success has helped make Amazon Chief Executive Jeff Bezos the richest person in the world.

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Recruitment slowed in the quarter. The deal is expected to close later this year.

Forward P/E is a measure of the price-to-earnings ratio using forecasted earnings for the P/E calculation for the next fiscal year.

Investors shrugged off second-quarter sales that missed estimates, focusing instead on soaring profit that came in at more than double analysts' projections.

"As Prime members increasingly scan their mobile apps to get discounts, Amazon is collecting more data about consumers' grocery purchase habits", said Patricia Orsini, an analyst for eMarketer. Members spend more than non-members.

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Meanwhile, total sales at Amazon.com hit $52.9 billion in the three months to the end of June, a 39% increase from $38 billion a year earlier. Amazon's revenue labeled as "other", which is comprised of advertising sales, its own products and the Prime Video service, came in at $2.2 billion, up 132% from a year ago.

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