Stock takes off after hours: Amazon increases profit sharply

by Hannes Breustedt, dpa

The world’s largest online retailer Amazon earned brilliantly in the Christmas quarter of 2021. The US group managed the announced cost avalanche due to the enormous need for personnel and the high investments in delivery logistics better than feared – not least thanks to its highly profitable cloud business. However, the growth outlook has clouded significantly after the e-commerce boom during the pandemic. Investors are still satisfied – also because Amazon is increasing prices in the US home market for the first time in years. The stock rose by around 18 percent in after-hours trading.