Amazon sales rise in holiday quarter, shares jump

Amazon.com Inc (AMZN.O) reported stronger than expected earnings on Thursday as North American sales surged during the crucial holiday quarter, sending its shares up 9 percent. The online commerce giant, which gets about a third of its revenue from October to December, reported earnings of 45 cents a share, trouncing Wall Street's average prediction for 17 cents. The sharply higher profit was a welcome surprise for Wall Street, which has clamoured for Amazon to come to grips with its growing investments in everything from Hollywood-style television productions, and cloud computing and consumer devices with mixed success.

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