Another solid quarter for Amazon pushes it toward a $1 trillion valuation

Amazon reported earnings for the second quarter of 2018 today, posting an even higher profit than Wall Street analysts estimated thanks in large part to boosts in North American operating income and its highly profitable cloud computing business. Amazon reported earnings per share of $5.07, more than double of analysts' estimation of $2.50.

Amazon fell just short of revenue expectations by bringing in $52.9 billion instead of the expected $53.41. Yet Amazon Web Services continues to grow at a rapid pace, posting $6 billion in sales compared to $4.1 billion last year at a growth rate just shy of 50 percent. Last quarter, Amazon released the next-generation Fire TV Edition smart TV, including the new Toshiba 4K TV, as well as the Fire TV...

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