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Amazon shares close 9.8 percent higher on surprise quarterly profit

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Washington: Online giant Amazon’s shares have closed 9.8 percent higher after it posted an unexpected profit on Thursday.

A BBC report said that Amazon reported a USD 92 million profit for the three months to June 30, surprising investors who had expected another loss. Sales rose by 20 percent to almost USD 23.2 billion.

The company’s stock has also risen by 78 percent since the start of the year.

Amazon has not often reported a profit and last did so for the fourth quarter of 2014. (ANI)