Amazon put up 31.1% growth number on its revenues, juicing sales to $30.4 billion in the quarter and topping analysts’ estimates by over $850 million. Earnings per share of $1.78 walloped expectations of $1.11.
In fact, The highest estimates on the Street called for $30.23 billion in revenues, although the company was unable top the highest estimates for EPS, which was $1.85.
Operating income of $1.3 billion is higher by about three-fold from last year, while net income is up nearly ten-fold. Free-cash flow of $7.3 billion is up 65% from the $4.4 billion the company put up in the same quarter last year.
Shares are up 11% on the year and 42% over the past 12 months, while the market cap is now holding above $350 billion.
Although the valuation is lower than in year’s past, it’s still astronomically high by many investors’ standards. Unfortunately, the valuation has always been what bears picked on with Amazon, yet that hasn’t stopped shares from climbing over 2,500% over the past 10 years.
Shares are up over 43,000% since its IPO.
