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Amazon has posted a fourth successive quarter of record profit. The online retailer and cloud computing provider said net profit more than doubled to $3.56bn (£2.76bn), beating analyst estimates. Revenue growth slowed, however, in part because of weaker sales outside the US. Sales rose 17% to $59.7bn. It expects sales growth of 13% to 20% for the next three months. And expenses growth slowed, albeit to a rate of 12.6%. Sales for Amazon Web Services rose 41% to $7.7 billion in the three month period to the end of March. "The benefits of cloud computing are clear for the user, and with profits up 59% this quarter, so are the advantages for Amazon," said George Salmon, an analyst at stockbroker Hargreaves Lansdown. Full story

25 April