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Amazon global profits plunge to £4.5m in second quarter despite sales rise

Amazon’s global net profits plummeted to $7m (£4.5m) in its second quarter, despite sales soaring 29% to $12.83bn (£8.18bn) as it continued to invest in its business.

Profits took a $65m (£41m) hit in relation to the acquisition and integration of automated picking firm Kiva Systems. In the second quarter of last year profits reached $191m (£121m).

International sales, which includes the UK, German, Japanese, French, Chinese, Italian and Spanish sites, were up 22% to $5.51bn (£3.51bn) over the quarter. 

The online giant expects to make a loss at an operating level between $350m (£223m) and $50m (£32m) in the third quarter, down from a $79m (£50m) profit last year. Despite the predicted profits plummet it expects to grow global sales between 19% and 31%, to between $12.9bn (£8.2bn) and $14.3bn (£9.1m).

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