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Amazon shares are soaring after the e-commerce giant announced fourth quarter earnings that smashed expectations.
For the three-month period ending December 31, 2019, Amazon generated $87.44 billion in revenue versus Wall Street analysts’ expectations of $86.02 billion. That’s an increase of 20.72 percent compared to the 72.4 billion the company brought in during the same period in 2018.
Net income checked in at $3.9 billion, or $6.47 per diluted share compared to expectations of $4.03. That’s just slightly better than the $3.8 billion Amazon brought in during the year-ago quarter, but nevertheless, an increase is an increase and that’s reason enough for investors to celebrate.
Share value in Amazon at the end of business on Thursday closed at $1,870.68. On Friday morning, shares were trading at $2,051.46. They’ve tapered down slightly to $2,042.61 as of writing but that’s still a very solid boost of more than nine percent for investors.
Looking ahead to the first quarter of 2020, Amazon said it expects revenue to be between $69.0 billion and $73.0 billion, or 16 to 22 percent more than the first quarter of 2019.
Masthead credit: Amazon packages by Pixavril