Thursday, July 23, 2015

Amazon is now bigger than Walmart

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Amazon, with its online power, has grown even bigger than Walmart

Amazon's market value surged past Walmart's in after-hours trading Thursday, fueled by an unprecedented lurch in the e-commerce giant's profits.

The company shocked Wall Street by posting net income of $92 million, or 19 cents a share — a dramatic rebuke to the skeptical analysts who predicted the company would lose 14 cents a share

The report is a big improvement for Amazon after years of lukewarm profits. During the same quarter last year, the Seattle-based company netted a loss of $126 million, or 27 cents per share. Read more...

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