Amazon shares soar to record high
FBN’s Deirdre Bolton on the release of Amazon’s earnings.
Shares of giant online retailer soared to a record high Friday in premarket trading on the strength of its unexpectedly strong first-quarter performance.
The price of one share reached $1,659.57 -- a gain of nearly 10%.
Its record close is $1,598.39 on March 12.
In the first three months of this year, the company's revenue climbed 43%, the fastest growth since the third quarter of 2011 and topping expectations.
Revenue appears poised for more gains: Amazon is also raising the price of its popular Prime service by 20%, the second price hike in more than 10 years.