Amazon boss Jeff Bezos made $13 billion within minutes

Amazon value set to top $1 trillion

Soon after the report, Amazon's stock, which had been holding back due to concerns over the company's increased investment and the cost of one-day delivery promise, surged 12% to $2,100 in extended trading.

For all of 2019, the company had sales of $280.5 billion, up 20% from 2018, not including a $2.6 billion negative impact from foreign exchange rates.

Revenue from subscription fees grew 32 percent to $5.2 billion for the quarter ended December 31, Amazon said, as more shoppers signed up for Prime than in any period prior.

Analysts expect a record holiday quarter with $86.15 billion in revenue, up 19 percent, and adjusted earnings of $7.02 per share, down from $8.28 a year earlier. The company made progress in the holiday season, reporting that it quadrupled one-day and same-day deliveries over the year-ago quarter. "Members now have free two-hour grocery delivery from Amazon Fresh and Whole Foods Market in more than 2,000 US cities and towns". What the surge in Amazon's market value and share prices did was increase Bezos' net worth as well.

Migrating to the cloud, one of the key aspects of digital transformation, is at the top of the priorities list for many companies around the world and Amazon, being among the early service providers, is reaping the benefits.

Amazon value set to top $1 trillion

A deep dive into the numbers revealed another stellar quarter for Amazon Web Services (AWS), the flagship cloud offering. The unit responsible for selling data storage and computing power in the cloud lost out to Microsoft in a high-profile deal last quarter to sell technology to the US Department of Defense, in what could have netted the company $10 billion over a decade.

Amazon has seen a 21.6% growth in net sales in North America, bringing its revenue up to $53.67 billion.

But the first thing to jump out, when reading Amazon's letter to shareholders, is that it hit 150 million Prime memberships during the fourth quarter.

The company's operating expenses climbed almost 22 percent during the quarter to $83.5 billion as it continued to invest in same-day delivery.

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