Amazon 2nd quarter profit doubles, beats estimates

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Story Published: Jul 23, 2008 at 1:54 PM PDT

By Associated Press

SEATTLE (AP) - Amazon.com Inc. says its second-quarter profit more than doubled and surpassed Wall Street's expectations. Sales were strong in several sections of Amazon's massive marketplace.

The Seattle-based Web retailer earned $158 million, or 37 cents per share, for the quarter that ended June 30. Amazon earned $78 million, or 19 cents per share, in the same quarter last year.

The company's revenue climbed 41 percent to $4.06 billion.

Analysts polled by Thomson Financial had expected earnings of 26 cents per share on $3.96 billion in revenue.

Sales of things like books, CDs and DVDs rose 24 percent to $1.15 billion, while electronics and other general merchandise sales rose 52 percent to $920 million.

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