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Amazon's 2Q 2017 Profit Drops 77 Percent; Blames Expansion Costs

July 27, 2017: 12:00 AM EST
Online retailer Amazon.com Inc. reported profit fell 77 percent to $197 million in the second quarter of 2017, compared with the same quarter in the previous year. Sales grew 25 percent to $38 billion; however, the high cost of expansion efforts, which include new warehouses and delivery capacity for its retail business and datacenters for its cloud services business, caused the drop in quarterly profit. Amazon is expanding its brick-and-mortar business, highlighted by its acquisition of Whole Foods Market Inc. in June 2017.
Laura Stevens, "Amazon’s Expansion Costs Take a Toll as Profit Falls 77%", Wall Street Journal, July 27, 2017, © Dow Jones & Company, Inc.
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