Higher advertising, cloud sales underscore profit gains at Amazon

Published October 25, 2018 11:27pm ET



Amazon, the e-commerce giant frequently criticized by President Trump, posted lower-than-expected revenue in the three months through September despite substantial gains in its advertising and cloud computing businesses.

Sales at the e-commerce giant grew 29 percent to $56.6 billion, slightly less than the $57 billion that analysts expected. Net income rose sharply to $2.8 billion, the company said in a statement on Thursday.

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