Photo: Aytac Unal/Anadolu Agency/Getty Images

Amazon's profit reached new heights for the second quarter, reaching $2.53 billion, the Wall Street Journal's Laura Stevens reports.

The big picture: That still doesn't beat out other major tech giants like Microsoft and Alphabet, per Stevens, but it is the third quarter in a row that showed profits of more than $1 billion.

Amazon's finance chief, Brian Olsavsky, "credited the profitability to...fiscal discipline and growth in the services business," per the WSJ.

  • The e-commerce giant is expected to bring in "roughly half of ever dollar spent online in the U.S."
  • Stevens writes: "No longer is Amazon known for suffering losses or producing razor-thin income by plowing every dollar it makes back into investments."

Yes, but: Quarterly revenue wasn't as promising. The WSJ reports that it came a little below estimates at $52,89 billion, and it's expected to be below estimates again in the third quarter.

Go deeper

8 mins ago - Health

Coronavirus testing czar: Lockdowns in hotspots "should be on the table"

The Trump administration's coronavirus testing coordinator Adm. Brett Giroir said on ABC's "This Week" that "everything" — including the "stringent lockdowns" that many governors implemented in March and April — should be "on the table" in states where new infections are skyrocketing.

Why it matters: President Trump said in June that the U.S. "won't be closing down the country again" — a view shared by many Republicans who believe that the economic damage caused by stay-at-home orders was too great to justify a second round of lockdowns.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 a.m. ET: 12,740,971 — Total deaths: 565,716 — Total recoveries — 7,022,846Map.
  2. U.S.: Total confirmed cases as of 8:30 a.m. ET: 3,247,782 — Total deaths: 134,815 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. Politics: Trump wears face mask in public for first time.
  4. Public health: Fauci hasn't briefed Trump on the coronavirus pandemic in at least two months — We're losing the war on the coronavirus.
  5. States: Louisiana governor issues face mask mandate.
  6. World: India reimposes lockdowns as coronavirus cases soar.
2 hours ago - World

Hundreds of thousands vote in Hong Kong's opposition primaries

Photo: Isaac Lawrence/AFP via Getty Images

Organizers say more than 500,000 Hong Kong residents have voted in primary elections held by pro-democracy opposition groups on Saturday and Sunday, despite fears of a government crackdown under Beijing's draconian new national security law, Reuters reports.

Why it matters: The primaries, which aren't part of the city's official political process, are intended to whittle down the field of pro-democracy candidates in order to avoid splitting the vote against pro-China ruling politicians in September's legislative elections.