Amazon.com Inc. dispelled concern about the cost of next-day delivery by reporting holiday-quarter revenue and profit that crushed Wall Street estimates. The stock surged 12% in after-hours trading Thursday on the news.
Fourth-quarter sales climbed 21% to $87.4 billion and profit rose to $6.47 a share, the Seattle e-commerce giant reported. Analysts, on average, projected sales of $86.2 billion and earnings of $4.11 a share, according to data compiled by Bloomberg. Amazon’s forecasts for the current quarter matched expectations.