Both Sales and Earnings Rise Sharply at Amazon
The typically slow winter months for traditional retailers did not seem to put a chill on the shopping at Amazon.com.
The company, based in Seattle, announced yesterday that its quarterly profit increased 38 percent, to $145 million, compared with $106 million in the period last year. It cited improving margins in its core retail business and increased sales in categories like electronics and soft goods, including jewelry, apparel and shoes.
Wall Street reacted positively to the report, which was released after the close of regular trading. Shares of Amazon.com shot up more than 12 percent after hours to over $50. During regular trading, Amazon shares fell to $44.75, down 2 cents, after slowly gaining all week on expectations of a strong quarter.
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