After reporting stronger than expected second quarter earnings yesterday, Amazon has passed $100 billion in market cap this morning. The company's shares are currently trading at around $225 per share, giving the e-commerce giant a $101.81 billion market cap.
Amazon's sales for the quarter neared $10 billion, an increase of 51 percent from the same quarter in 2010. Net income decreased 8% to $191 million in the second quarter, or $0.41 per diluted share, compared with net income of $207 million, or $0.45 per diluted share, in second quarter 2010. But despite this decline in net income, Amazon was able to beat analyst expectations.
And the company's stock is rallying this morning, thanks to bullish investors.
Shares reached as high as $227.20 today, which is an all-time high for the company. To put the $100 billion market cap in perspective, Amazon has surpassed HP's valuation, which is currently $76 billion. eBay's market cap is $43 billion.
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