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CCTV Script 28/07/17

— This is the script of CNBC's news report for China's CCTV on July 28, Friday.

Amazon's Q2 earnings report showed a mixed picture, with its net revenue reached $37.96 billion, beating Wall Street's estimates and achieved a 25% growth YOY.

However, it's the profit and EPS figures that disappointed the market.

The company said that its quarterly profit fell 77% even as sales jumped, a sign of the high cost of its increasing dominance of retail.

Meanwhile, it reported 40 cents earnings per share, falling far short of analysts' expectations of $1.42 earnings per share, ane declining from the EPS of $1.75 from last year.

Shares of Amazon fell nearly 4 percent during the after-hours trading.

The rising share prices of Amazon on Wednesday and the morning session of Thursday helped its founder and CEO Jeff Bezos to become the richest man in the world for a time.

Over the past few years, as Amazon's stock has soared, so has Bezos' fortune. He owns 79.9 million shares, or just under 17 percent of the company. His net worth has grown by $70 billion over the past five years, surging by $45 billion in the last two years alone - possibly the largest wealth-creation surge in history.

But Bezos didn't end the day as the richest man, as Amazon's shares declined on weaker-than-expected earnings report.

However, analysts say that investors shouldn't worry too much about Amazon's big earnings miss, as its investors don't buy for the company's growing and market share instead of profit.

The company's future growth may partically rely on its AWS, with its revenue beat expectations. It reported $4.1 billion, and Wall Street had expected $4.08 billion.

[DAVID GARRITY, GVA Research CEO] "A lot of institutional investors who historically have not invested in technology but have been invested in retail and also in the consumer sectors have migrated over to considering Amazon as being a holding for the purposes of meeting their needs in the sector. At the same time, traditional holders of Amazon stocks technology oriented investors have focused more on Amazon web services operations, their cloud computing businesses."

CNBC's Qian Chen, reporting from Singapore.

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