Shares of Amazon rose 12% in overnight trade and reached an all-time high of $1,105.58.
The E-commerce giant reported earnings per share of 52 cents compared to the street’s estimate of 3 cents per share.
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The company pointed to the 42% year-on-year increase in its web services and a boost in sales from Whole Foods as key drivers for growth in the quarter.
Interestingly, with the share price over $1,100.00, the “Price to Earnings” ratio is now 246.25 to 1.
Amazon
