NEW YORK (
(AMZN - Get Report) 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.
(ZNGA - Get Report) was another winner, gaining 13 cents, or 1.38%, to reach $9.55 after registering a 32% revenue hike in the
The social gaming specialist brought in revenue of $321 million, up from $243 million in the prior year's quarter. On a GAAP basis, however, Zynga registered a loss thanks to rising costs.
Excluding items, though, Zynga beat Wall Street's earnings forecast. Zynga was also one of the most active Nasdaq stocks on share volume of 749,693.
dipped $2.02, or 2.99%, to $65.49 before market open after the company's
, released on Thursday.
Despite comfortably beating analysts' revenue and earnings estimates, investors balked at Coinstar's second-quarter guidance, which came in at the low end of Wall Street's forecasts.
--Written by James Rogers in New York.
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