Amazon reports 31.1 percent jump in revenue

By: | Published: July 29, 2016 2:44 AM

The company's net income rose to $857 million, or $1.78 per share, from $92 million, or 19 cents per share, a year earlier.

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Amazon.com Inc reported a 31.1 percent rise in quarterly revenue, powered by blockbuster growth in its cloud services unit and an increase in subscriptions for its Prime loyalty program.

The world’s biggest online retailer’s net sales rose to $30.40 billion in second quarter ended June 30 from $23.19 billion a year earlier.

The company’s net income rose to $857 million, or $1.78 per share, from $92 million, or 19 cents per share, a year earlier.

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