Amazon shares sink as profits fall 77pc
Amazon's quarterly profit slumped 77pc after it stepped up spending in the three-month period to boost its international presence and invested heavily in video content. Net sales rose 25pc to $38bn (£29bn) in the second quarter of 2017, up from the $30.4bn posted a year earlier, but operating expenses came in 28pc higher at $37bn, as Amazon said it continued to see "many high-quality opportunities to invest". In the last few months, Amazon said it had expanded a number of its services to new markets, including its Amazon Fresh grocery ...
Click
To Read Full Article