Amazon.com beat Wall Street's fourth-quarter revenue and earnings expectations, as the e-commerce giant posted strong Christmas sales amid a weak economy.
Amazon's revenues jumped 18 percent to $6.7bn (£4.7bn) for the quarter compared with the same period a year earlier. Wall Street had been expecting Amazon to generate sales of $6.4bn for the quarter, according to Thomson Reuters.
The company reported a nine percent increase in net income to $225m for the quarter, or 52 cents a share. Wall Street was expecting a net profit of 50 cents a share, excluding stock options expenses.
Amazon stock rose 7.5 percent to $53.75 a share in after-hours trading.
"We're particularly grateful for the unusually strong demand for Kindle in the fourth quarter," Jeff Bezos, Amazon chief executive, said in a statement in reference to the company's electronic reader.
During the fourth quarter, Amazon reported an 18 percent increase in US and Canadian sales, compared to the same time a year ago.
Worldwide sales of its electronics and general merchandise climbed 31 percent to $2.89bn in the quarter, compared with its performance a year ago.
