Amazon.com shares hit a record after it reported better-than-expected quarterly profit, fueled by the growth of higher-margin businesses during the fiercely competitive holiday quarter.
The world’s largest Internet retailer said that its cloud computing services, video content sales and its aggressive expansion in e-books helped increase profitability.
In addition, a growing network of warehouses or fulfilment centres closer to customers held down shipping costs as it vied with Wal-Mart Stores and other major retailers for consumer dollars over the holidays.
via Business feed http://www.scmp.com/business/companies/article/1139155/amazon-shares-soar-after-strong-profit
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