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Amazon Cloud Unit Helps It Stay Profitable While Investing

  • Company takes on Netflix, Wal-Mart and Flipkart at once
  • E-commerce giant spends for growth and makes money, too
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Amazon Sees a Profit for Fifth Straight Quarter

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Amazon.com Inc. is showing investors it can be consistently profitable while making big investments to challenge competitors in the U.S. and expand around the globe.

The Seattle-based company reported second-quarter earnings that topped analysts’ estimates, while spending on quicker delivery to keep ahead of Wal-Mart Stores Inc. and other brick-and-mortar retailers, expanding its entertainment offerings to challenge video-streaming rival Netflix Inc. and pouring money into India to take on e-commerce competitor Flipkart Ltd.