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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Jim Beam owner bets on canned vodka cocktails to double revenue
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Cordlife served letter of demand, notice of claim from customers
IndoAgri appoints former EDB chairman Philip Yeo as chairman and lead independent director
GSK profit drops 23% in Q1 on higher costs