Amazon posts higher profit and revenue as it benefits from strong holiday sales and stabilizing shipping costs. Shares rose about 13% after hours.
Amazon.com Inc.’s fourth-quarter sales hit record numbers, and the company’s profits beat estimates, as shipping costs for its one-day Prime program began to stabilize.
Amazon shares jumped 12% to $2,088 in after-hours trading, adding more than $100 billion to the company’s market value. Should the stock close at these levels Friday, Amazon would be the fourth U.S. company with a market cap above $1 trillion.
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