Amazon.com reports profit more than triples

Amazon.com's second-quarter profit more than tripled, boosted by strong sales of books, music and electronics worldwide, an Associated Press report said.

The Associated Press report said earnings for the three months ended June 30 climbed to $78 million from $22 million during the same period last year, according to the company.

Results topped Wall Street's expectations. Analysts surveyed by Thomson Financial forecast a profit of 16 cents per share.

Revenue rose 35% to $2.88 billion from $2.14 billion in the year-ago quarter, beating analysts' expectations for $2.81 billion in sales, the report further said. Sales in the US and Canada rose 38% to $1.6 billion.

The report further said in the company's UK, German, Japanese, French and Chinese sites, revenue increased 31% to $1.28 billion.

Worldwide, sales of books, music and other media-category products grew 27% to $1.83 billion. Revenue from electronics and general merchandise improved 55% to $970 million, the report also said.

For the current third quarter, Amazon said it expects revenue from $3 billion to $3.18 billion. For the full fiscal year, Amazon raised its forecast to $13.80 billion to $14.30 billion, up from its earlier outlook for $13.4 billion to $14 billion.

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