Amazon shares pop as company beats revenue, profit forecast

Shares of online retailer Amazon.com Inc. shot up in after-hours trading as the company blew past Wall Street expectations for first-quarter revenue and earnings.

Amazon reported Thursday that it made a profit of $1.07 US per share, topped the average analyst forecast of 61 cents, according to Zacks Investment Research.

The company reported revenue of $29.13 billion, ahead of the $27.94 average analyst forecast.

Investors responded by sending Amazon shares up more than 12 per cent to reach $676.80 US. During the regular trading session prior to the release of the earnings report, Amazon was down $4.57 at $602.

The company said it expects its revenue for the third quarter will come in between $28 billion and $30.5 billion. Zacks said analysts had forecast revenue of $28.14 billion.

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