Our Q2 2012 capital expenditures were $657 million, the increase in capital expenditures reflects additional investments in support of continued business growth ...I'm getting all of this from the webcast of Amazon's second-quarter call. It's public information. You can listen to it as well. Live when it happens. In the archive after the fact. Again, Amazon's not hiding a darn thing. Investors reward growth. And they reward companies who provide transparency into the business. Amazon presents a straightforward proposition. It leaves nothing for investors to wonder about. That's why the stock rebounds so nicely after a pullback on noise or some other phantom disappointment. It's really simple math. Massive growth now. Enormous future growth potential. This requires a considerable amount of spending on the ecosystem, the customer experience and capacity. If Amazon sees growth moderate, it will pull back on the spending cycle, thus easing pressure on margins and profitability.
We expect [Q3] capital expenditures including capitalized software development to be approximately $0.8 billion to $0.9 billion. These anticipated investments are driven primarily by our expectations of a continued business growth consisting of investments in technology infrastructure, including Amazon web service and additional capacity to support our fulfillment operations.
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