Amazon reported a profit of $2.6 billion for the three months ending in June — up slightly from the year prior, but well below its record of $3.6 billion set in the first quarter. That ends a streak of four consecutive quarters of record profits.
Amazon on Thursday reported a profit of $2.6 billion for the three months ending in June — up slightly from the year prior, but well below its record of $3.6 billion set in the first three months of this year. That ends Amazon's impressive streak of four consecutive quarters of record profits. The weaker-than-expected profit comes as Amazon is investing heavily in expediting deliveries.
Amazon Prime Day was bigger than its Black Friday and Cyber Monday — combinedThe shift to next day deliveries is thought to be key to renewing Amazon's sales growth at a time when the company is running up against the law of large numbers. Amazon posted revenue of $63.4 billion for the most recent quarter, up 20% from the same period a year ago.
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