Amazon poised to join the trillion-dollar club again after knockout earnings report

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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

Amazon is inching toward a $1 trillion valuation after reporting blowout earnings for its fourth quarter on Thursday.

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.

In crossing the threshold, Amazon would join Apple, Alphabet and Microsoft, all of which have hit the key milestone. Amazon reached a $1 trillion market cap for the first time in September of 2018.

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.

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