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Amazon posts first-ever profit

Leading e-tailer Amazon.com today reported its first ever profit: US$5 million for its fourth-quarter. Sales rose 15 percent to $1.12 billion. This compares favorably to a loss of $545 million reported in the year-ago quarter. Amazon attributed the profit to lower prices and companywide cost reductions. Shares of Amazon are trading up more than 20 percent on the news.

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