Amazon blows by estimates, sees strong first quarter

The world's largest online retailer -- which sells everything from books to barbecues while offering a host of services to businesses and Web developers -- has been viewed as a winner of a fiercely competitive 2009 holiday season.

Amazon, whose shares rose nearly 2 percent in after-hours trade, has gained ground as more consumers turn to the Web for bargains and has moved aggressively against retail juggernaut Wal-Mart Stores Inc in a battle for low-priced books, toys and electronics.

Amazon's growth "is not only intact and confirmed by the earnings report, they continue to surprise with nice upside beyond any reasonable expectations," said Frederick Moran, analyst at Benchmark Co.

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- Posted: 2010-01-29 11:14:54

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