After hours, shares of Amazon surged as much as 11% after the company reported better-than-expected third quarter profit and a stronger sales outlook.
Specifically, the online retailer earned 45 cents a share in its third quarter on sales of $5.45 billion, compared with 27 cents a share on sales of $4.26 billion on the same period last year.
The company gave a fourth-quarter revenue projection of between $8.13 billion to $9.13 billion.
“Kindle has become the No. 1 best-selling item by both unit sales and dollars—not just in our electronics store but across all product categories on Amazon.com," Jeff Bezos, founder and CEO of Amazon.com said in a prepared statement.
“It's also the most wished for and the most gifted. We are grateful for and energized by this customer response. Earlier this week we began shipping the latest generation Kindle. Its 3G wireless works in the U.S. and 100 countries, and we've just lowered its price to $259," he added.