Amazon quarterly profit jumps ninefold to 857 million

Online giant Amazon said it profit in the second quarter surged ninefold to 857 million, lifted by cloud services as the tech giant expanded its offerings. Revenues jumped 31 percent to 30.4 billion, Amazon said in stronger-than-expected results. While Amazon developed a reputation for delivering little or no profit in its retail operations, its earnings have been growing over the past year as it expands into video and new delivery services and boosts its cloud computing unit, Amazon Web Services (AWS). Revenues jumped 31 percent to 30.4 billion, Amazon said in stronger-than-expected results The second annual Prime Day was the biggest day ever for Amazon, and was also a record day for Amazon devices globally. Compared to Prime Day 2015, worldwide orders grew by more than 60%, orders from third-party sellers with Prime Day deals nearly tripled, and Prime members saved over twice as much on deals.