Amazon’s profits are still declining even as the company post big gains in sales–but the second-quarter drop in profits was not as bad as Wall Street was expecting, so that counts as bullish news for investors (who now value the company at a more than 90 times its earnings). Sales increased 51% to $9.91 billion, about $500 million of that gain attributed to favorable foreign exchange; net income was $191 million or 41 cents a share, down from $207 million a year ago (on much smaller sales). But analysts were expecting only 34 cents a share on sales of under […]
