Amazon watchers may have formed the impression last week that US investors were unhappy with its lacklustre results.
What a difference a day makes. After reporting a surprise $7 million ($4.6 million) on Thursday, the shares jumped back on Friday as investors seemed determined to look for the positives.
US investors were impressed by Amazon's performance in the US where sales jumped 30 per cent in the second quarter to $9.5 billion and operating profit jumped 19 per cent to $409 million.
Amazon's chief financial officer Tom Szkutak said sales of apparel and consumables are growing strongly prompting more frequent visits by shoppers to the site. He also said the Amazon Prime service, which promises two day delivery in the US, is performing strongly.
The stock jumped 2.7 per cent to $311.70 on Friday afternoon and shares hit a record 313.62 earlier in the day.
Amazon, which does not usually lower itself to dealing with investors' short-term profit concerns, appears to have gone on the offensive this time after the reaction to its performance.
The Seattle-based firm made a loss in its second quarter versus analysts projections of a $28.8 million profit. Total revenue was up 22 per cent to $15.7 billion.
The company has been spending money on its warehouse infrastructure in the US, digital content such as social reading site Goodreads - but it was its overseas expansion into countries such as India and China that seemed to be the real drag.
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