Amazon.com blew past Wall Street profit estimates in its closely watched holiday quarter and forecast revenue for early 2010 that topped Wall Street expectations.
The online retailer – which sells everything from books to barbecues – has been viewed as a winner of a fiercely competitive 2009 holiday season.
Amazon has gained ground as more consumers turn to the web for bargains.
Fourth-quarter net profit jumped 71 per cent to $384 million (€277 million), or 85 US cents per share, from $225 million, or 52 cents per share, a year earlier. Revenue increased 42 per cent to $9.52 billion, above Amazon’s own forecast.
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– (Reuters)
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