Amazon shares soar on surprise profit
Online retailer forecasts third-quarter revenue above estimates and reports strong sales in North America
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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…
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