Amazon reported earnings for the second quarter of 2018 today, posting an even higher profit than Wall Street analysts estimated thanks in large part to boosts in North American operating income, its highly profitable cloud computing business, and booming sales in its growing ad division. Amazon reported earnings per share of $5.07, more than double of analysts’ estimation of $2.50.
That equates to a quarterly profit of $2.5 billion, Amazon’s highest ever and a staggering 1,200 percent increase from this time a year ago, when the company posted a profit of only $197 million. This is the third consecutive quarter Amazon has posted profit of more than $1 billion, and the first time it has ever broken $2 billion. Helping its numbers is...
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