Online retailer Amazon.com (NASDAQ: AMZN ) reported earnings Thursday afternoon, and investors clearly liked what they saw; shares have jumped as much as 10% today.
Amazon reported a $0.12-per-share loss, which squared with analysts' estimates. Revenue came in at $17 billion, which was up a staggering 24% year over year. Amazon added 9 million more customer accounts in the quarter, for a total of 224 million active accounts. The company also grew sales both domestically and internationally.
Motley Fool analyst David Meier applauds this quarter, and believes investors have a lot to be happy about. While Amazon's market cap is now nearly $170 billion, David expects that there will still be more growth for this company going forward. Online retail accounts for less than 10% of consumer spending, so there's plenty of runway for Amazon. Additionally, Amazon historically reinvests nearly all its cash in the business itself, a sure sign of a company with the long term in mind.