Topics Inc.
Amazon beats profit forecasts
Amazon beats profit forecasts Inc.'s shares jumped more than 8% after the online retail giant posted a larger-than-expected profit in the fourth quarter. The company, which saw solid sales gains in the key holiday shopping period, reported net income of $214 million, or 45 cents a share. Even though that's less than the $239 million, or 51 cents a share, earned a year earlier, it was well above analyst expectations of 18 cents a share. It also ended a string of two consecutive losing quarters. Sales grew 15% to $29.33 billion, missing analyst expectations of $29.71 billion. One key to those solid numbers: a 53% gain in Amazon Prime memberships, the $99-a-year service offering shipping on millions...