Jason Abbruzzese says, “Amazon finished 2014 much stronger than some expected.

The company’s Prime service grew its membership by 53% worldwide off a base of “tens of millions” in 2014.

The ecommerce retailer also announced solid earnings for the end of 2014 in its fourth-quarter earnings release on Thursday, logging $0.45 per share of profit, easily beating expectations of $0.17. Its total revenue of $29.3 billion just missed analyst estimates.

Shares moved sharply higher in after-hours trading, adding around 12.9% after the company’s earnings call.

“When we raised the price of Prime membership last year, we were confident that customers would continue to find it the best bargain in the history of shopping,” Jeff Bezos, Amazon’s founder and CEO said in the earnings press release“.

Amazon stock surges after turning better-than-expected profit in Q4

Mashable
Sharing is caring