On the top of page one in the Wall Street Journal:
Amazon’s Record Profit Streak Ends
Amazon.com’s record quarterly profit streak has ended, as the online retailer faced higher shipping costs, slowing growth from its cloud computing business and steeper loss in its overseas retail business.
The company’s second quarter profit rose 3.6% from a year ago to $2.63 billion after more than doubling in the previous quarter. It missed analysts’ consensus estimate. Amazon had posted its best-ever profit the previous four quarters.
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On the bottom of page A16 in the Washington Post, owned by Amazon’s Jeff Bezos.
Amazon’s profit edges higher as U.S. regulators eye its growing clout
Amazon tallied big second-quarter gains in its cloud computing business even as the tech giant faces regulatory scrutiny for its dominance of online retail sales.
Overall, Amazon’s profit gained 4 percent in the second quarter to $2.6 billion. Sales hit $63.4 billion, a 20 percent increase over last year’s second quarter.
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