Amazon is spending billions on shipping as it makes Prime one-day delivery a reality

Photo by Michele Doying / The Verge Amazon’s business tends to oscillate between periods of extreme high-spending and extreme profitability, and the company is now fully in the former. Amazon posted third quarter earnings this afternoon, boasting sales of $70 billion and profit of $2.1 billion. While sales blew past analyst expectations, thanks largely to a record-setting Prime Day, the profit came in far under.The culprit: higher shipping and other fulfillment costs Amazon is now incurri