Amazon publishes record profits, Bezos moves to third on Forbes list

Amazon achieved best-ever quarterly profits of 857 million dollars, up from 92 million dollars for the same period last year, the online giant said in a press release Thursday.

It is the fifth quarter in a row that the company has been in the black - a first since 2012.

Revenue from Amazon's booming cloud-hosting division, Amazon Web Services, increased by 58 per cent to 2.86 billion dollars, thanks in part to an expansion into India.

North American operating profits also improved year-on-year from 348 million dollars to 702 million dollars in the second quarter.

With the resulting two per cent increase in share price in after-hours trading, Amazon CEO Jeff Bezos moved to being the third- richest person in the world, with an estimated personal wealth of 65.3 billion dollars, according to Forbes magazine.

"It's been a busy few months for Amazon around the world, and particularly in India," Bezos said in the press release.

Last update: Fri, 29/07/2016 - 06:43

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