Saturday, Dec 03, 2016
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Amazon posts 96% drop in profit for quarter

SEATTLE -- Amazon.comInc. reported Thursday that profit for the quarter ended June 30 was $7 million, or 1 cent a share, a drop of 96 percent from $191 million, or 41 cents, a year ago. Revenue grew 29 percent to $12.8 billion from a year ago.

The company projected an operating loss for the current quarter.

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