Amazon reported quarterly financials after the bell Thursday for its fourth quarter, the all-important holiday season for the e-commerce giant. And its numbers had some people doing a double take, after earnings per share came in at $3.75, more than double the $1.85 that analysts surveyed by Yahoo Finance were estimating.
Net sales grew to a massive $60.5 billion, up 38% from the prior year. Analysts had been expecting $59.83 billion.
The stock ticked up 3% in initial after-hours trading.
It’s a far cry from the days when Amazon was unprofitable. For years, Amazon was able to get away with convincing investors that they should bet on its future growth.
Amazon has a market cap of $677 billion and recently reached record highs.
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