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Amazon shares soar as Amazon shares surge ahead of Thanksgiving shopping trip

Amazon shares soar as Amazon shares surge ahead of Thanksgiving shopping trip

Amazon shares rose as it reported better-than-expected results and a surge in holiday spending.

The tech giant reported net income of $1.4 billion for the year, compared with $1 billion a year ago.

Earnings per share were up 4.2%, to $0.78.

The stock is up more than 3% so far this year.

Shares in the company, which makes and sells software, software services and other products, have surged as its online sales continue to grow, fueled by the launch of the Kindle Fire TV tablet and the Kindle e-reader.

The company also has an expanded e-commerce business.

Amazon’s stock rose as much as 6.5% on Wednesday as it pushed through a strong holiday shopping period.

The shares have surged since the end of the year amid a strong rebound in the stock price of tech companies like Microsoft, Apple and Google.

Analysts surveyed by Thomson Reuters expected the company to report earnings of $2.10 per share.

The Dow Jones Industrial Average ended higher.