Amazon's Quarterly Profit Tops $2 Billion For First Time

Amazon’s quarterly profit soared past $2 billion for the first time as its online shopping, cloud computing and advertising businesses kept growing.

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The company, which has expanded far beyond its online bookseller beginnings, is also moving into health care and building up its physical presence as it cements customer loyalty through its smart devices and Prime membership of shipping and streaming perks.

Revenue soared 39 percent in the second quarter, but missed analysts’ expectations.

The financial results still pleased investors, who sent its shares up more than 3 percent to $1,866.55 in after-hours trading. Its stock is already up nearly 72 percent in the last year, and Amazon is getting closer to surpassing Apple as the world’s most valuable company.