Investors were hoping for a bit more from Amazon

Amazon's stock lost 4.6% after it reported second-quarter net profits of $76.5m (�41.5m), or 18 cents a share, just below the predicted 19-cent level.

This was despite the $76.5m figure comparing to a loss of $43.3m in the same three month period last year.

Amazon saw total sales rise 26% to $1.39bn, in line with its targets.

The jump in sales was assisted by price discounts and free shipping incentives.

"While free shipping is expensive for the company, it saves our customers tens of millions of dollars each quarter, and we plan to keep it in place indefinitely," Amazon chief executive Jeff Bezos said.