Amazon Earnings Rise; CE Strong

Amazon Earnings Rise; CE Strong


Amazon Thursday reported a second quarter profit of $207 million, a 45 percent increase from the same time last year, although the number fell short of analyst expectations, according to the AP.

The online retail giant said that sales from electronics and other general merchandise jumped 69 percent over last year's numbers, to $3.49 billion, compared with overall sales which rose 41 percent.

The company also said more than $1 billion worth of products were ordered from Amazon in the past year from mobile devices.

“We're seeing rapid growth in Kindle, Amazon Web Services, third-party sales, and retail. We're also encouraged by what we see in mobile,” CEO Jeff Bezos said in a statement.