The West

Amazon meets tiny profit expectations
Amazon meets tiny profit expectations

Online retailer Amazon.com has reported second-quarter earnings that match Wall Street's small expectations, but its revenue gains have fallen short of forecasts.

Net income in the three months to June 30 came to just $US7 million ($A6.8 million), or a cent per share, a drop of 96 per cent from $US191 million, or 41 cents, a year ago.

That matched expectations of analysts polled by FactSet, although Amazon.com Inc says its profit was hurt by a $US65 million loss related to its acquisition of Kiva Systems Inc.

Revenue grew 29 per cent to $US12.83 billion, short of the $US12.90 billion expected by analysts.

However, Amazon.com said on Thursday that revenue was negatively impacted by currency movements to the tune of $US272 million.

Shares fell 1.7 per cent to $US216.38 in after-hours trading.

The West Australian

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