Amazon profit slumps 77 percent as costs surge, shares fall

(Reuters) - Amazon.com Increported a 77 percent slump in quarterly profit as the company invests heavily in areas such as video content and in fast-growing economies such as India.The shares touched a record high of $1,083.31 in regular trading, helping Chief Executive Jeff Bezos unseat fellow tech billionaire Bill Gates to become the world's richest person, according to Forbes.Amazon said operating expenses rose 28.2 percent to $37.33 billion in the second quarter ended June 30.