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

Latest News From The West

Tens of thousands of West Australian children are living in homes where no parent is in paid employment as the end of the mining boom hits the job market.

The building industry watchdog yesterday put one of the construction union’s most notorious officials on its WA No Permit List— a warning list for employers — after he was last week convicted …

Popular videos