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Amazon profits dip as sales rise
Online retailer Amazon.com has unveiled
a slip in profits despite sales
increasing by a quarter.
The group said profits for the three
months to June dipped 32% to $52m
(£29.9m) from $76m in the same period
last year. Sales jumped 26% to $1.75bn.
Seattle-based Amazon has faced higher
costs in recent months as a result of
free and discount delivery offers.
But despite rising costs earnings beat
expectations, coming in at 12 cents
compared to forecasts of 8 cents.
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