Amazon plows ahead with high sales and spending; profit plunges

Amazon plows ahead with high sales and spending; profit plunges

As for its operating results, it expects it to range from an operating loss of US$400 million to an operating profit of US$300 million.

Inc reported a jump in retail sales along with a profit slump, as its rapid, costly expansion into new shopping categories and countries showed no sign of slowing.

Once again, internet major Amazon's worldwide businesses losses soared over five times in the quarter ending June 30, climbing to $724 million largely on the back of the India market.

The latter was in line with Wall Street expectations, while the company's earnings per share fell slightly short of the predicted values, prompting the firm's share price to fall by around 3% in after-hours trading.

Last month, in an attempt to expand into physical stores and the business of food, Amazon unveiled plans to buy leading USA organic food grocer Whole Foods Market for a whopping $13.7 billion. He added, "Our video content spend will continue to grow, both sequentially and quarter over quarter". "Q3 is generally a high investment period", CFO Brian Olsavsky said on a call with reporters, according to Reuters, pointing to preparations for the Christmas rush.

In a statement, Jeff Bezos, Amazon founder and CEO, said the company remains "heads-down and focused on customers", before reeling off a list of achievements the company ticked off during the second quarter.

Chris Messina's Danny Will Return For 'The Mindy Project' Season 6
Although the actress has confirmed her pregnancy, she is yet to reveal who the father of the child is. "The episode is a little bit about mom shaming and that's cool".

"The fact that they are investing on so many fronts right now just speaks to the opportunity that they have before them", said Edward Jones analyst Josh Olson. The spectre of Amazon's disruption now hangs over a dizzying array of industries and markets.

The company also announced last month that it planned to buy Whole Foods Market for $13.7bn.

However, he said, "We really think it will be a big boost for us as we expand our grocery and consumables offering". Analysts had expected operating income in the third quarter of $931 million, according to FactSet StreetAccount.

The company doesn't plan to change the price of its Prime $99 subscription service anytime soon, even though the membership carries more offerings. The company posted earnings of $0.55 per share on $5.66 billion in revenue, compared to consensus estimate of $0.55 on $5.75 billion in revenue, respectively. Net sales rose 24.8%to $37.96 billion.

AWS' operating income was $916 million for the quarter which was higher than in Q2 past year at $718 million.

Related News:

  • Dowry law: First examine complaint then arrest SC says in landmark verdict

    Dowry law: First examine complaint then arrest SC says in landmark verdict

    The Court also stated that impounding of passports and Red Corner Notices for people residing overseas should not be a routine. The top court directed that a designated police officer should be appointed to deal with complaints under Section 498A .

    In Apparent De-escalation, Abbas Calls For Return To Prayer In Al-Aqsa

    Three Palestinians protesters were killed and hundreds of others were wounded last Friday in violent clashes with Israeli forces. The demonstrations often turned into clashes between Palestinian protestors and Israeli soldiers, fueling a wave of unrest.

    Samsung Galaxy Note 8 to have 256 GB, Emperor Edition in pipeline

    Those other products helped the South Korean tech giant post record profits for the second quarter . What's also interesting about Samsung's wording is the "marketing expenses" reference.
  • Gowdy: If I Were Jeff Sessions, I Wouldn't Stick Around

    Does he have support in the justice department? This transcript has been automatically generated and may not be 100% accurate. A source close to Sessions' team told the Washington Examiner the attorney general had no immediate plans to resign.

    Juniper Networks, Inc. (NYSE:JNPR) Technical Analysis and Chart Patterns

    Over the last five days, shares have faced -4.46% losses and now is up 0.78% since hitting its 200-day moving average of $28.53. Acrospire Investment Management LLC increased its stake in shares of Juniper Networks by 837.8% in the first quarter.

    Rahane and Pandya pile on runs as India near massive lead

    Nuwan Pradeep was the only successful bowler for Sri Lanka , as he picked up all the 3 Indian wickets on the day. Perera hit Ravichandran Ashwin for a six and took a single off the next ball to bring up his fifth test fifty.
  • Antonio Conte questions Tottenham's Premier League title ambitions

    Antonio Conte questions Tottenham's Premier League title ambitions

    Conte praised Tottenham's progress but stressed it was easier for them to develop talent due to their lower expectations. But Conte , who led Chelsea to the title last season, added: "If [Spurs] don't win the title, it's not a tragedy".
    Russia Orders US Embassy Staff Cuts in Sanctions Retaliation

    Russia Orders US Embassy Staff Cuts in Sanctions Retaliation

    Russia's retaliation, outlined in a statement from the Foreign Ministry, came a day after the Senate voted to slap new sanctions on Russian Federation .
    Trump dines with Sean Hannity, former Fox executive Bill Shine and Scaramucci

    Trump dines with Sean Hannity, former Fox executive Bill Shine and Scaramucci

    But let me tell you about myself. "If he's gonna be that divisive, I'm not sure he's gonna be very useful to the President". It's worth noting that there was in fact no leak behind Politico's publishing of Mr Scaramucci's financial disclosure form.
  • Dortmund allow Merino to discuss transfer as Newcastle move nears

    Dortmund allow Merino to discuss transfer as Newcastle move nears

    Newcastle manager Rafa Benitez added: "Mikel is a midfielder with talent, an U21 global for Spain ". The 21-year-old only joined the German outfit last year, arriving from Osasuna for a €3.85m fee.
    Axis Bank is all set to buy FreeCharge for Rs 400 crore

    Axis Bank is all set to buy FreeCharge for Rs 400 crore

    The bank has continued to leverage its strong retail franchise, resulting in a year-on-year growth of 19% in the retail portfolio. As far as net NPAs are concerned, it stood at 4.86% during the quarter compared with 3.01% in Q1FY17 and 4.89% in Q4FY17.
    Sauber seals new Ferrari deal instead of Honda

    Sauber seals new Ferrari deal instead of Honda

    "Technological partnership is no longer on the agenda, " Sauber said in a statement, saying that it will soon unveil the name of its future equipment manufacturer.


Most liked

James Corden sings musical takedown of Trump's trans military ban
He also points out that Trump's logic of banning transgender citizens in the army to save budget is totally flawed as in reality "it only saves that budget 0.04%".

Check Out The LawBreakers PC & PS4 Open Beta This Weekend
However, keep in mind that these downloads are only available until tomorrow, so get it done soon if you plan to. The pre-load is available now on Steam and the event will start at the following times.

WhatsApp for Android beta adds App Shortcuts: Here's how to use
Especially so because the Facebook-owned company just announced that it has over 250 million daily users on the Status feature. The multi-faceted app can be used for sharing texts, photos and videos , as well as connecting via voice and video calls.

Elon Musk's SpaceX valued at $21 billion
The general consensus has been that space exploration is too risky and rocket building too expensive for the private sector. SpaceX has made ten space missions to the ISS under the NASA's space cargo resupply contract.

Indian Women's Cricket Team felicitated by the Sports Minister in New Delhi
Indian media have been ignoring their achievements for a long time, and now, their voice can not be silenced anymore. Harmanpreet Kaur was undoubtedly the biggest star for the Indian women's cricket team during the recent World Cup.

Samsung Pay might be heading to non-Samsung phones
The favourable reception of Samsung's Galaxy S8 and S8 Plus has indeed translated into good n terms of sales and profits . The most impressive fact is that Samsung's mobile division estimated for 29 percent of the company's profits this year.

BJP Office Allegedly Attacked by CPI(M) Activists in Thiruvananthapuram, Workers Vandalise Houses
Chief Minister Pinarayi Vijayan should explain and order a probe into "conspiracy of police officials in the attack", he said. A number of clashes broke out between CPM and BJP workers on Thursday late night in Thiruvananthapuram .

Twitter, Inc. (TWTR) Rating Reiterated by Cowen and Company
The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link . Canaccord Genuity reissued a "hold" rating and set a $15.00 target price on shares of Twitter in a research note on Monday.

IN officer dies after shot multiple times
That person and a second occupant, who was injured in the crash, were taken the hospital and were being held there by the police. A Southport Police Department officer has been shot along Madison Avenue in a residential area in southern Marion County.

Inder Kumar, Salman Khan's 'Wanted' Co-Star, Dies At 43
In his whole career, Inder Kumar had worked in 21 movies and now was working for a movie too. The cremation is scheduled to be held at Yaari Road, Shamshaan Bhoomi on Friday at 6 pm.

Indian NIA summons Syed Ali Gilani's son for questioning
The Kashmiri separatists have made fortunes for themselves and family for leading the separatism in the Valley and state. Top separatists such as Malik, Geelani and Mirwaiz Umer Farooq are alleged to be the main beneficiaries.

At least 48 people injured in train crash at station in Barcelona
The accident occurred as the train was approaching central Barcelona's Francia station during rush hour on Thursday morning. The train did not brake in time when entering the station, hitting the buffers at the platform, according to reports.

Would you use Samsung Pay on your non-Samsung smartphone?
All of Samsung's Galaxy-branded phones that support Samsung Pay come with a special component dedicated to the MST technology. Competing services Android Pay and Apple Pay don't offer a similar functionality, and work only with NFC-enabled terminals.

3 arrests in sex work ring across Nevada, California, Texas
Quinton Brown, Gerald Turner and Mia McNeil are accused of coercing girls and young women online, turning them into sex slaves. Turner is facing six felony counts human trafficking on minors and pimping and pandering, Becerra said.

Anthony Scaramucci Vs. Reince Priebus: White House Drama Escalates
Asked what he meant by including Priebus, Scaramucci said, "If Reince wants to explain he's not the leaker, he can do that". Scaramucci's initial, since-deleted tweet that referenced Priebus appeared on Twitter "minutes later", Lizza wrote.