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Amazon Avoids Summertime Blues

Amazon sellers may have a love-hate relationship with the technology giant, but shareholders are loving them right now.

Strong revenue from the third-party segment helped Amazon salvage what was expected to be a bleak second quarter. Results for the period, released Thursday afternoon, showed third-party revenue rising 9% year over year to $27.4 billion. That was 6% ahead of Wall Street’s expectations and helped cover for another slump in Amazon’s online store division, which reflects the bulk of Amazon’s own retail business. Revenue there fell for the third straight quarter and came in around $50.9 billion, 2% shy of analysts’ forecasts.