Amazon posts record $2.5bn profit fueled by ad and cloud businesses
by Julia Carrie Wong in San Francisco from on (#3VNF7)
Shares climb after quarterly profits that were twice what analysts expected, as revenue grows 39% to $53bn
Amazon posted a record profit of $2.5bn in the second quarter of 2018, thanks to strong performance by the retail giant's non-retail divisions - advertising and cloud-computing, the company announced Thursday,
The favorable profit results, which were double analyst expectations, buoyed tech investors a day after weak growth saw Facebook's market value plunged by $119bn, the single greatest one-day loss in US history.
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