Amazon Stock Blasts Its Way to All-Time Highs
Online retailer Amazon.com reported earnings Thursday afternoon, and investors clearly liked what they saw; shares have jumped as much as 10% today.
Amazon reported a $0.12-per-share loss, which squared with analysts' estimates. Revenue came in at $17 billion, which was up a staggering 24% year over year. Amazon added 9 million more customer accounts in the quarter, for a total of 224 million active accounts. The company also grew sales both domestically and internationally.
Motley Fool analyst David Meier applauds this quarter, and believes investors have a lot to be happy about. While Amazon's market cap is now nearly $170 billion, David expects that there will still be more growth for this company going forward. Online retail accounts for less than 10% of consumer spending, so there's plenty of runway for Amazon. Additionally, Amazon historically reinvests nearly all its cash in the business itself, a sure sign of a company with the long term in mind.
The article Amazon Stock Blasts Its Way to All-Time Highs originally appeared on Fool.com.David Meier has no position in any stocks mentioned. Erin Kennedy has no position in any stocks mentioned. The Motley Fool recommends Amazon.com. The Motley Fool owns shares of Amazon.com. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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