SAN FRANCISCO: Amazon shares shot higher Thursday after the internet colossus released quarterly earnings figures for the holiday quarter that trounced market expectations.
It also operates one of the largest streaming video services and recently announced that its streaming music service has gained more than 55 million subscribers, closing in on Apple Music. “Amazon blew all expectations out of the water during the holiday quarter,” said Andrew Lipsman of the research firm eMarketer, noting that the rollout of next-day Prime delivery helped momentum.
“We think that we start with a very big lead in this space because of our many years of investment, not only in capacity but also in services and features that we provide to customers,” chief financial officer Brian Olsavsky said during an earnings call.
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