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Economics

Amazon sales surge, but spending bites into profit

Internet colossus Amazon on Thursday reported its profit shrank in the recently ended quarter despite surging sales as it poured money into growth.

28.07.2017

(AFP) Internet colossus Amazon on Thursday reported its profit shrank in the recently ended quarter despite surging sales as it poured money into growth.

The US-based company, with its EU headquarters in Luxembourg, said that net sales increased 25 per cent to $38 billion when compared to the same period last year, but that profit plunged 77 percent from a year ago to $197 million.

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