Due to strong holiday sales, Amazon (AMZN) reported 4th quarter revenues of $6.7b, up 18% and beating Street estimate of $6.48b, and earnings of $225 mil or 52 cents a share, beating Street estimates of 40 cents/sh.

According to MarketWatch…

Wall Street had been expecting an earnings decline for the period, as many traditional retailers felt the pinch of the recession. But Amazon (AMZN) was able to grow its sales for the crucial holiday season as more shoppers flocked online, and the company also benefited from keeping its expenses in check.

Shares of Amazon were trading up more than $9 each at $59.13 in the early hours. The stock was down more than 35% over the past six months.

“Amazon’s 4Q results were better than street estimates and Amazon is one of the few large-cap companies delivering strong top-line growth, which will likely help maintain a premium multiple (scarcity value for growth investors),” wrote Justin Post of Merrill Lynch in a note to clients on Friday.

Tags: Amazon