Amazon reported earnings that fell short of Wall Street forecasts, as it continued to spend heavily on technology and content, and issued a cautious revenue outlook.
The online retailer's net sales rose 22 percent to $15.7 billion in the second quarter from $12.83 billion in the year-earlier period.
The company's operating margin was just 0.5 percent, as its operating expenses jumped 23 percent. Amazon has been spending heavily to expand internationally and beef up its Web services business. Spending on technology and new content jumped 46 percent from a year earlier. It posted an operating margin of 1.1 percent in the first quarter.