Amazon shares reach all-time high after $22bn Christmas earnings report came out
Amazon released their Christmas earnings report today showing off $22 billion in revenue resulting in the largest surge in shares the company has ever seen. Shares in Amazon rose 22% worldwide right after the report was released.
Much of this increased revenue can be attributed to the 20 new distribution centers Amazon has setup recently in response to having to charge tax on all purchases in the US.
Amazon also announced that they now have a total of $12.4 billion readily available in their cash pile.