Amazon seems to look like a bargain to traders: Its shares are up more than 5% in post market trading after reporting Q1 results that beat analyst expectations.
If the enthusiasm continues tomorrow then the company’s stock could hit a new high as it approaches $1,000 a share.
The company generated net profits of $724 million, up 41.1% vs the period last year, on revenues of $35.7 billion, up 22.6%. The Street anticipated $35.31 billion in revenue.
Earnings at $1.48 a share also topped expectations for $1.13.
CEO Jeff Bezos says he’s excited about the company’s expansion opportunities in India. The group there “has increased Prime selection by 75% since launching the program nine months ago, increased fulfillment capacity for sellers by 26% already this year, announced 18 Indian Original TV series, and just last week introduced a Fire TV Stick optimized for Indian customers with integrated voice search in English and Hindi.”