Thursday October 22, 2015

Amazon Posts Second Straight Profit Powered By Web Services

It looks like more good news for Amazon today. The company's shares are up over eleven percent after posting a profit for the second quarter in a row.

E-commerce company Amazon.com Inc on Thursday recorded a surprise profit for the second quarter in a row, propelled by higher sales in North America and its cloud computing business, and its shares rose 11 percent. Chief Financial Officer Brian Olsavsky told reporters on a conference call that the balance between investing and cost controls "will be lumpy over time."

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