Amazon.com Inc.'s (AMZN) second-quarter earnings dropped 7.7% as the Internet's No. 1 retailer by sales continued spending at a rate that outpaced even its heady revenue growth.
But the decline in profit wasn't as steep as feared, and took a back seat for investors to 51% sales growth. Shares were up 6.5%, at $228.15 after hours. The stock hit its latest high last Wednesday and had fallen 2.7% since then through the close.
But the decline in profit wasn't as steep as feared, and took a back seat for investors to 51% sales growth. Shares were up 6.5%, at $228.15 after hours. The stock hit its latest high last Wednesday and had fallen 2.7% since then through the close.