SAN FRANCISCO: Amazon.com Inc's quarterly results beat Wall Street's most bullish expectations as heavy spending by the world's largest Internet retailer began to pay off through sales of more digital products on its new Kindle Fire tablet.
Amazon shares surged almost 15%, increasing the company's market value by more than US$10bil and boosting the stake of chief executive Jeff Bezos by almost US$2.5bil. Analysts cheered first quarter earnings and revenue which comfortably exceeded their forecasts.
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