NEW YORK (TheStreet) -- Amazon (AMZN) shares soared in premarket trading on Friday as investors responded positively to the Internet retail giant's strong first-quarter results, released after market close on Thursday.
The Seattle firm beat analysts' earnings estimates by four-fold and said profit margins held steady, much to the delight of investors.
Amazon shares climbed $32.71, or 16.69%, to $228.70 before the market open Friday. The company was also one of the most active Nasdaq stocks on share volume of 1,051,322.
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