Amazon shares jump after surprise 18% profit surge

Bezos’ business beating forecasts

Amazon has surprised analysts by reporting a $92m profit. The online retail giant recorded a $126m loss over the same period last year.

In after-hours trading, shares in Amazon shot up by more than 18%.

The company saw sales rise by 20% to $23.2bn in the second quarter of the year, which included a 25% rise in North America.

This was driven by strong demand for consumer electronics and general merchandise.

Amazon’s “Prime Day”, on July 15 – a widely publicised stunt with low prices for customers signing up to high-speed delivery service Amazon Prime – was also a success, with a high level of take up.

Amazon founder and chief executive Jeff Bezos said it was all down to hard work.

“The teams at Amazon have been working hard for customers,” he said.

The profit is a departure for Amazon, which has customarily reported low or negative profits, while its revenue has soared.

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