Amazon blows past Wall Street expectations for holiday quarter

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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.

 

 

Featured Image: Drew Angerer/Getty Images

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