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(Reuters) – Amazon's earnings in the second quarter fell below expectations on Thursday, as larger online retailers competing with Wal-Mart and other online retailers struggled to invest more in marketing and express delivery.
The company forecast net sales of $ 66 to $ 70 billion for the third quarter. Analysts had forecast revenue of $ 67.27 billion, according to data from IEFS of Reventive.
Net sales increased nearly 20% to $ 63.40 billion in the second quarter, exceeding estimates of $ 62.48 billion.
Amazon's net profit reached $ 2.63 billion, or $ 5.22 per share, in the second quarter ended June 30, compared with $ 2.53 billion, or $ 5.07 per share a year ago. earlier.
Analysts were expecting earnings of $ 5.57 per share, according to IEFS data from Reventive.
(Prepared by Ahmed Alhami for publication in Arabic)
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