Amazon shares soar on surprise profit
Online retailer forecasts third-quarter revenue above estimates and reports strong sales in North America
San Francisco
AMAZON.COM Inc shares surged more than 17 per cent on Thursday as the online retailer posted an unexpected quarterly profit, pushing its market value above that of Walmart, the world's largest retailer.
Amazon also forecast third-quarter revenue above estimates, and reported strong sales in North America, and unprecedented growth in its popular Prime two-day unlimited shipping service.
Prime, which for US$99 a year also provides exclusive access to certain movies, music and Kindle books, is getting new subsc…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
France's Casino supermarket chain to axe up to 3,200 jobs
Prada outshines rivals with 16% revenue lift boosted by Miu Miu
Toymaker Hasbro posts quarterly profit beat, slower sales decline
Hilton lifts 2024 profit forecast on international travel demand
China knockoff raid jolts a global throng of fake-fashion influencers
Roche cuts pipeline after research setbacks and sales drop