Amazon shares rise 5% after earnings top forecasts

Amazon shares rose 5% late on Thursday, after earnings topped forecasts.

The online retailer giant reported earnings of 45 cents a share, jumping past expectations of 17 cents, but revenue of $29.33 bn was slightly below expectations.

Analysts had expected Amazon.com to report earnings of 17 cents a share on $29.67bn in revenue, according to a consensus estimate from Thomson Reuters.

The company added it projected first-quarter sales of between $20.90bn and $22.90 billion, slightly below estimates of $23.00bn, while operating income rose to $59m in the fourth quarter, from $510m a year earlier.