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Amazon Reports Slump in Proft

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On Thursday, the world's biggest online retailer Amazon reported a 77 percent slump in quarterly profit, adding that net income fell to $197 million, or 40 cents per share when the second quarter ended June 30. Amazon, which is in the process of buying grocery Whole Foods, has stepped up spending to expand warehouses globally. It has also invested heavily in areas such as video content and in fast-growing economies around the world.

Added on the 27/07/2017 15:41:17 - Copyright : Wochit

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