Teh One Who Knocks
07-24-2015, 10:52 AM
Matt Krantz, USA TODAY
http://i.imgur.com/llFfJbd.jpg
Investors loved Amazon's quarterly profits so much Thursday that the online retailer is now worth more than the nation's top retailer, Walmart.
Shares of Amazon soared a staggering $81.82, or 17%, to $564.00 in afterhours trading. That jump makes Amazon worth $262.7 billion - which is 12% more than Walmart's $233.5 billion market value as of the end of trading Thursday.
Keep in mind that Amazon has passed Walmart in terms of the value of the company in the eyes of investors. Walmart still generates more sales than Amazon. Amazon pulled in revenue of $95.8 billion over the past 12 months, which is just a fifth of the $485.5 billion hauled in by Walmart over the past 12 months.
But Amazon, which was founded 21 years ago, is growing - and that's something investors are willing to pay up for as growth slows down at many other companies.
Interestingly, Amazon's shares have been soaring as its chief Asian rival, Alibaba, has struggled. The Chinese e-commerce site saw its shares drop again Thursday by 27 cents to $83.88. That means Alibaba is worth $210.7 billion - which also falls short of Amazon.
http://i.imgur.com/rpuD5W1.png
http://i.imgur.com/llFfJbd.jpg
Investors loved Amazon's quarterly profits so much Thursday that the online retailer is now worth more than the nation's top retailer, Walmart.
Shares of Amazon soared a staggering $81.82, or 17%, to $564.00 in afterhours trading. That jump makes Amazon worth $262.7 billion - which is 12% more than Walmart's $233.5 billion market value as of the end of trading Thursday.
Keep in mind that Amazon has passed Walmart in terms of the value of the company in the eyes of investors. Walmart still generates more sales than Amazon. Amazon pulled in revenue of $95.8 billion over the past 12 months, which is just a fifth of the $485.5 billion hauled in by Walmart over the past 12 months.
But Amazon, which was founded 21 years ago, is growing - and that's something investors are willing to pay up for as growth slows down at many other companies.
Interestingly, Amazon's shares have been soaring as its chief Asian rival, Alibaba, has struggled. The Chinese e-commerce site saw its shares drop again Thursday by 27 cents to $83.88. That means Alibaba is worth $210.7 billion - which also falls short of Amazon.
http://i.imgur.com/rpuD5W1.png