Amazon returns to trillion-dollar market-cap club as shares soar 8%

0 389

Amazon (AMZN) handily topped consensus expectations in fourth-quarter earnings results, dazzling the Street and pushing shares above $2,000 apiece.

The company’s market capitalization jumped back above $1 trillion, joining the likes of Apple, Microsoft and Google-parent Alphabet.

Amazon’s fourth-quarter earnings per share totaled $6.47, well above consensus estimates for $4.11.

The company returned to year-over-year earnings growth, after last quarter posting a decline as high costs from ramping up one-day shipping bit into profitability. Fourth-quarter revenue of $87.6 billion was also ahead of the $86.17 billion expected.

Leave A Reply