Online retail giant, Amazon.com just hit a new milestone, crossing the $1 trillion market cap.
The e-commerce company reported earnings from revenue from the major holiday quarter which exceeded the expectations set by Wall Street.
This gives room for the company to invest heavily in it’s “next-day” delivery without taking an impact to its bottom line.
With the announcement came a 10% surge in the shares of the company, sending it’s market cap towards the trillion dollar mark.
According to reports from Business Week, Amazon reported that sales in the fourth-quarter were $87.4 billion while the profit earned was $6.47 per share.
The expectations from the market regarding the numbers were $86.2 for the sales and $4.11 per share for earnings.
This report relied on analysis from BusinessWeek.