Amazon continued to wow Wall Street with record profits in its second quarter earnings, blowing past analyst expectations on profit and revenue. Here are the five things to know from the e-commerce giant’s earnings.
1. Amazon posted record profits of $857 million: That’s up 800% from the same quarter in 2015, when Amazon saw $92 million in profits. These massive profits are due to a change in strategy by Amazon CEO and founder Jeff Bezos, who previously reinvested into the company’s businesses and bets, which included building new fulfillment centers or products like smartphones and other hardware.
