Retail in Asia

In Trends

Amazon profits beat Wall Street forecasts

Amazon has posted better-than-expected profits after the world’s largest retailer cut costs and boosted sales of its Kindle tablet and digital products.

Amazon shares rose almost 15 percent in after-hours trading in New York after it said quarterly net income was USD130 million.

The firm has been launching new products such as the Kindle Fire, a tablet that competes with Apple’s iPad.

(Source: BBC News )