Amazon’s stock is skyrocketing after a blockbuster post-Whole Foods earnings

26 Oct Amazon’s stock is skyrocketing after a blockbuster post-Whole Foods earnings

Shares of Amazon.com Inc. are on fire in after-hours trading today after the Seattle e-commerce behemoth beat third-quarter earnings. The company reported net income of $256 million on $43.7 billion in sales. That’s up from $32.7 billion in sales during the same period last year and far above the $41 billion analysts expected, MarketWatch reported. Earnings per share were 52 cents, compared to expected earnings per share of 2 cents. Amazon’s stock immediately jumped, hitting an after-hours high of $1,054.99 a share.

The report is Amazon’s first since its acquisition of Whole Foods, and if nothing else, the stellar results indicate that the transaction went smoothly—and Amazon hasn’t missed a beat. Per Bloomberg, the grocery chain generated operating income of $21 million in the quarter.

Check out the full earnings report here as you continue to kick yourself for not buying Amazon stock in the ’90s.

Source: Fast Company