Amazon has made their investors very happy with a report that their Q1 results were 29% higher than last year and they raked in $29.1 Billion in revenue in the first 3 months of 2016. This good news sent Amazon stock up 12% and follows a very strong Q4 in 2015. Amazon seems to be on the upswing following some ups and downs over the past couple years. Re/Code has the full story.
Amazon stock soared more than 12 percent in after-market trading as the company posted first-quarter financial results that easily beat analyst expectations.
Amazon recorded a profit of $1.07 per share in the quarter on revenue $29.1 billion, which was a 29 percent increase over the same period last year. Analysts had estimated a profit of 58 cents a share on about $28 billion in revenue.