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Amazon Poised For Biggest Market Value Leap Ever

Amazon is looking to balance the stock market scales, as it is poised to add US$200 billion in market value, assuming its 14 per cent gain in after-hours trading holds to today’s close.

This would mark the largest single-day gain in stock market history, coming a mere day after Facebook’s parent Meta’s $250 billion wipeout broke records at the other end.

Amazon will also top Apple’s single-day record, set only last week, when it added US$179 billion the day after its December quarter earnings report.

Likewise, Amazon’s leap comes after it reported strong sales, almost doubling profits during the December quarter, despite being crushed by supply chain issues and massive labour shortages.

Amazon reported a profit of US$14.32 billion for the quarter, compared with US$7.22 billion the year prior.

The company also reported revenue of US$137.41 billion, making this the fifth consecutive quarter where it topped $100 billion in revenue. The stock slightly underperformed, with Wall Street estimating quarterly revenue US$137.68 billion.

Sales are expected to be between US$112-117 billion for the current quarter, again under analysts expectations of US$120.93 billion.

 



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