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).
Have your say
You must sign in to make a comment
Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.