Amazon founder and CEO Jeff Bezos laughs as he talks to the media while touring the new Amazon Spheres during the grand opening at Amazon’s Seattle headquarters in Seattle, Washington, January 29, 2018.
Lindsey Wasson | Reuters
Shares of Amazon surged more than 10.9% in pre-market trading on Friday following the results. The stock needs a price of $2,008.80 to reach the $1 trillion mark at the start of trading, based on an outstanding count of 497,810,444 shares in the company’s latest 10-K filing.
Amazon’s fourth-quarter results proved its investments in one-day shipping are paying off, as it pushed consumers to purchase more products during the holiday shopping season. The company posted fourth-quarter earnings of $6.47 per share, which crushed estimates of $4.03 per share.
Amazon also gave upbeat guidance for the first quarter and provided updates figures on Prime subscribers, saying it now counts more than 150 million paying members in the program.