Amazon Shares Surge With News of Q4 Profits
Even with a disappointing holiday season sales figure, Amazon was able to come up with a profit that beat the analysts forecast.
Amazon shares surged at the news by about 15 percent in the after-hours trades to $357 on Thursday. Bezos, the company's CEO has been in a spending spree earlier which disappointed the investors, but at last the analysts feel that ne is taking the warnings from investors seriously and is controlling the costs.
Those warnings had to be taken seriously as they came in form of a huge selloff in shares of Amazon, which in 2014 had lost twenty percent of their value.
The greatest loser was Bezos himself as he is the largest shareholder of the Web giant based in Seattle. His net worth had sunk by approximately by $8 billion, to $28 billion.
The fourth quarter sales of the company increased fifteen percent to $29.3 billion. This is the slowest rate of quarterly increase for Amazon since the recession years of 2009.
Amazon. com, Inc. serves its customers through its retail websites. It mainly focuses on convenience, selection and price. As for the sellers, Amazon offers programs which allow them to sell their products through its Websites and to complete orders through them.
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