Amazon reports record holiday sales, stock soars
The company’s shares jumped 13% and market cap exceeded $1 trillion in after-hours trade
Stocks impacted: Amazon.com Inc (AMZN)
The e-commerce giant reported fourth-quarter profit of $3.3 billion, or $6.47 a share, on record quarterly sales of $87.4 billion. Profit rose 8% to $3.3 billion during the holiday quarter, after sliding more than 25% from July to September. Amazon’s fourth-quarter revenue rose 21% to $87.4 billion from a year earlier. The company’s shipping costs rose to $12.88 billion, a 43% increase from a year earlier. The advertising business posted $4.8 billion in sales, a 41% increase from the year-earlier period. As a reminder, in December, Amazon said that it had its best holiday shopping season ever, with billions of orders received globally. Following an impressive report, the company’s stocks rallied 13% and market cap exceeded $1 trillion in after-hours trade.
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